Why Marijuana Stock IIPR Popped 14% in August
Innovative Industrial Properties (NYSE: IIPR) stock jumped 14.4% in August, according to data from S&P Global Market Intelligence. The S&P 500 index returned 3% last month.
This robust performance by shares of the cannabis-focused real estate investment trust (REIT) can be attributed to the company's release of strong second-quarter results and continued investor enthusiasm about its long-term growth prospects.
Over the one-year period through Sept. 1, shares of IIPR have returned 104%, compared to the S&P 500's 30.2% return.
Source Fool.com
