Should You Buy Innovative Industrial Properties Stock Right Now?
Grizzly Research published a scathing report about Innovative Industrial Properties (NYSE: IIPR) last week, asking if the cannabis-focused real estate investment trust is "the WeWork of Cannabis." The short-seller answered its own question, stating, "We think it's even worse!"
Usually, when a short-seller launches a public attack on a company, the company's shares fall. But IIP's share price actually increased after Grizzly Research released its report. IIP quickly responded to the Grizzly Research report, stating that it "contains numerous false and misleading statements about IIP and its Executive Chairman, Alan Gold," adding that the "report is flawed and demonstrates a fundamental misunderstanding of IIP's business model."
Is IIP a marijuana stock you wouldn't want to touch with a 10-foot pole? Or could IIP be a stock you should buy right now?
Source Fool.com
