3 Top Pot Stocks to Buy Right Now
Most cannabis companies have seen their shares drop so far this year, as lowered profits, the slowed pace of legalization, and expectations have scared investors off. The AdvisorShares Pure Cannabis ETF is down more than 49% this year, while the ETFMG Alternative Harvest ETF has fallen more than 39%.
NewLake Capital Partners (OTC: NLCP), Cannacord Genuity Group (OTC: CCORF) and Trulieve Cannabis (OTC: TCNNF) have not been immune to investors' concerns, and their shares have fallen as well, even though all three are financially strong enough to last until the cycle for cannabis investing swings back in their favor.
NewLake Capital Partners is the new kid on the cannabis real estate investment trust (REIT) block. It just had its IPO last August, and its market cap of $455 million is overshadowed by the $3.82 billion market cap of Innovative Industrial Properties, its main competitor. Both REITs specialize in lease-backs to cannabis companies, where they provide capital to cannabis operators by buying cultivation and retail properties, then renting them back to cannabis companies with triple-net leases that put most maintenance expenses on the tenants.
Source Fool.com
