A decade ago, only 16 states allowed the sale of marijuana for medical use, and none had yet legalized its sale for recreational use. Now, 36 states allow medical marijuana sales, and 18 of those, plus two territories and the District of Columbia, have also passed laws allowing the sale of recreational-use marijuana. Multi-state operator Cresco Labs has focused on limited-license states because those markets are more profitable and feature less competition.
Innovative Industrial Properties (IIPR) closed at $239.05 in the latest trading session, marking a -1.56% move from the prior day.
Below are three cannabis stocks that not only have good long-term prospects, but should also do well (or continue doing well) for the next year or so. Three Fool contributors believe GrowGeneration (NASDAQ: GRWG), AFC Gamma (NASDAQ: AFCG), and Innovative Industrial Properties (NYSE: IIPR) are poised to make you richer through 2022 and beyond. Eric Volkman (GrowGeneration): There aren't many pick-and-shovel stocks associated with the marijuana industry, which is only one of several reasons to buy GrowGeneration.