3 Cannabis Stocks to Buy Before They Explode Higher – InvestorPlace

Support for cannabis legalization reached all-time highs in 2023, creating a long list of cannabis stocks to buy. For one, a new Gallup survey found that 70% of Americans believe cannabis should be legal, which is a record high. 

Two, multiple states have legalized it for adult use and medical reasons. Third, the Biden Administration pardoned those convicted of simple possession. Four federal agencies, including the Drug Enforcement Agency (DEA), may soon reschedule cannabis as a Schedule III drug.

Plus, according to Reuters, several more U.S. states could soon legalize its use, including Hawaii, South Dakota, Florida, Nebraska, New Hampshire and Pennsylvania. In addition, with U.S. elections nearing, candidates may want to latch on to what 70% of the population wants.

That being said, investors may want to look at the following cannabis stocks to buy such as:

Innovative Industrial Properties (IIPR) Source: Shutterstock

When I mentioned Innovative Industrial Properties (NYSE:IIPR) on Nov. 14, I noted, “Thanks to its 9% yield, which could push even higher, it’s cheap at $80 a share. Further, earnings are coming back strong.” Today, with a yield of 7.72%, the real estate investment trust (REIT) is up to $94.35 after testing a high of $103.17.

IIPR is still one of the top cannabis stocks to buy.

Read More

Scroll to Top