Following a miserable May that saw nearly three dozen pot stocks lose at least 10% of their value, June was nominally nicer to the green rush. The Horizons Marijuana Life Sciences ETF, an exchange-traded fund holding more than four dozen cannabis stocks of various weightings, rose by a modest 2%.
Then again, the data on individual stocks wasn’t as pretty. Of the 60 I follow, just 21 ended the month of June higher (two were unchanged, as well). Pessimism was still readily apparent, but it was the most popular pot stocks — those generally weighted higher in most marijuana ETFs — that shone the brightest.
Below you’ll find the six best marijuana stocks from June, as well as the likely reason(s) behind their ascent.
Innovative Industrial Properties: Up 47%
Cannabis real estate investment trust (REIT) Innovative Industrial Properties (NYSE:IIPR) was the first pot stock to list on a major U.S. exchange. A regular on the top-performers list, IIP was June’s best pot stock, with a gain of 47%.
Published at Mon, 08 Jul 2019 16:25:34 +0000