Why Marijuana Stock Innovative Industrial (IIPR) Fell 16% in August

Shares of Innovative Industrial Properties (NYSE: IIPR) declined 15.6% in August, according to data from S&P Global Market Intelligence. The stock's return was also negative 15.6%, since no dividends were paid during the month.

The San Diego-based company is a real estate investment trust (REIT) focused on properties used for growing and processing cannabis in U.S. states where marijuana is legal for medical use. 

For context, the S&P 500, including dividends, fell 1.6% last month.

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Source Fool.com