There simply isn't much good news for the cannabis industry these days. It's not just cannabis operators that have been impacted by market issues; ancillary companies supporting the cannabis industry have also been affected.

Innovative Industrial Properties (NYSE: IIPR) stands out as a great example. Shares of the cannabis-focused real estate investment trust (REIT) have plunged more than 60% year to date. 

Is the stock a smart pick to buy on the steep pullback or one to avoid altogether? Here are the arguments for and against investing in Innovative Industrial Properties (IIP) from two Motley Fool contributors.

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Source Fool.com