2019年7月30日星期二

Innovative Industrial Properties Draws $188 Million Investment

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Cannabis Profits Daily
Tuesday, July 30, 2019
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Shares of Innovative Industrial Properties Inc. (NYSE: IIPR), the only dividend-paying cannabis company, have taken a beating from its high of $137.62 on July 11th.

From that peak, the stock price began its decline when Innovative Industrial announced it would offer more shares to the public at a price of $126 per share.

The selling continued when IIPR increased the offering the next day and the price finally bottomed out at $102.98 last Tuesday.

The decline in price was a typical reaction to new shares hitting the market, but it's often nothing to panic about. Events like offering more shares provide liquidity, which is an opportunity for early investors with significant gains to take profits.

And the demand for the new shares issued was high. All shares originally offered, plus additional shares that could only be issued provided demand was high, were sold.

Despite the selloff, the stock is still up about 169% from the time we first mentioned it to Cannabis Profits Daily readers back in October.

And given how much the company will make investing the cash it just raised, even the investors that just bought in at $126 will make a killing...
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