Previous close | 1.2000 |
Open | 95.0900 |
Bid | 0.2500 |
Ask | 0.6500 |
Strike | 180.00 |
Expiry date | 2023-01-20 |
Day's range | 1.2000 - 1.2000 |
Contract range | N/A |
Volume | |
Open interest | 59 |
With the return of its shares crashing by 63% so far this year, Innovative Industrial Properties (NYSE: IIPR) isn't exactly proving to be a safe harbor from the market's recent craziness. Recently, the largest cannabis real estate investment trust (REIT) has been plagued by a tenant defaulting, not to mention a market drawdown and endemic pessimism regarding marijuana stocks. Let's evaluate why Innovative Industrial's stock is so dented in the first place so that you can judge whether its future prospects are bright enough to justify a purchase.
Bear markets can be hazardous for growth stock investors. The more cash you keep during good times, the more you'll have to gobble up growth stocks at low prices during the bad times. The stocks that we'll discuss today, Zillow Group (NASDAQ: Z)(NASDAQ: ZG) and Innovative Industrial Properties (NYSE: IIPR), have been hit hard this year, down at least 45% year to date (YTD), and they both took close to 20% hits in June.
Mr. Wolfe, please go ahead. Presenting today are Alan Gold, executive chairman; Paul Smithers, president and chief executive officer; Catherine Hastings, chief financial officer; and Ben Regin, vice president of investments.