With legalization of marijuana becoming more and more widespread across the United States, a formerly underground industry has been making its way into the larger world of legal business. Innovative Industrial Properties, Inc. (IIPR) is one of the latest and most notable companies focusing on marijuana to hit the markets, and the company had a fairly quiet IPO on Thursday, December 1. What makes IIP a standout compared with other marijuana-focused companies, and what should investors expect from this business?
Gaelan Bloomfield and Ram Venkay, partners in a new investment fund that will be managed from Australia and will focus on Calif.-based cannabis investment opportunities, are notably wary about the prospects at home, Down Under.
In 2016, Californians ordered marijuana on the Eaze platform once every 30 seconds, according to the “Eaze Insights: 2016 State of Cannabis Data Report.” That doubled 2015’s rate of an order once every minute. Eaze, an online platform for marijuana deliveries, drew its report from 250,000 platform users and a supplemental survey of 5,000 state residents.
On Feb. 6, 2017, the first clinical trial to study the effects of medical marijuana in the treatment of post-traumatic stress disorder in military veterans dispensed medical marijuana to its first veteran at the Scottsdale Research Institute in Phoenix.