This company will own the land grab of the future $1 billion Michigan market…
The video below was shot on the first day of adult-use cannabis sales in Michigan.
Around the 0:08 mark, take a good look at the long line of cannabis enthusiasts.
That line tells you everything you need to know about the cannabis legalization movement – people are willing to pay for safe, regulated products.
And now, we have new sales numbers in Michigan to back that up.
For the first time since the state launched recreational sales on December 1, 2019, adult-use cannabis sales surpassed medical cannabis sales on a weekly basis. From June 8 to June 14, recreational sales totaled $10.2 million, while medical sales reached $9.97 million.
In fact, recreational sales have increased in Michigan every week since April 13.
There’s going to be a lot of money made in this market – it was almost a $1 billion market just with medical sales in 2018.
Innovative Industrial Properties Reigns Supreme
Back in April, Innovative Industrial Properties Inc. (NYSE: IIPR) purchased a property in Michigan for $5 million and entered into a lease agreement for the property with a subsidiary of Cresco Labs Inc. (OTC: CRLBF).
That marks Innovative Industrial’s fifth Michigan location, which goes to show the excellent foresight of the management team.
In 2018, the state generated $958 million in medical sales. Just imagine what’s on the horizon with recreational sales starting in December 2019.
Innovative will keep acquiring more properties and enter into more sale-leaseback transactions, which will create even more long-term rental revenue for the company.
And with IIPR, you also have a rare combination of stock price appreciation and dividend payouts. That means you’ll make money from the stock price going up and will receive dividend payouts.
You can leave those payouts in your brokerage account, cash them out, or enroll in a dividend reinvestment program (DRIP), where the dividend payouts are used to buy more shares of IIPR, free of charge.
We have a free guide on how to use DRIPs on Robinhood right here.
Of course, Innovative Industrial Properties isn’t the only profit opportunity in Michigan.
That’s why Advisory Board member Charlie Delvalle released this report on the three keys to capitalizing on Michigan’s rapidly-expanding cannabis market. As the co-founder of the dispensary Hashtoria, Charlie has his boots on the ground and knows what it takes for a business to be successful.
He breaks down exactly what is happening in Michigan right now, and he gives you an insider edge with what to look for in a company before making an investment.
Innovative Industrial Properties stands out from other cannabis stocks in three ways – it’s profitable, it’s paying a dividend, and it’s available on a major U.S. stock exchange. It’s also an excellent example of a pick-and-shovel play. Learn more about this special type of cannabis investment.
5 responses to “One Company You Need to Know About in Michigan’s New Adult-Use Market”
June 22 2020