"Is Innovative Industrial Properties (NYSE:IIPR) the WeWork of Cannabis," asks Grizzly Research. "We think it's worse."
"We visited in person dozens of properties, interviewed neighbors, the county clerks, and reviewed related leases. Our findings are shocking: We believe IIPR has accumulated a highly toxic portfolio of low-quality assets."
"Our cash flow analysis shows that IIPR has many characteristics of a pyramid scheme. We believe the ever-increasing dividend would have to be financed from capital raises or reduced substantially."
Grizzly pegs value of the stock at $22.29, even under an optimistic scenario. Shares are down 4.45% to $66.07. source seeking alpha
Yea, they give 0 evidence or facts to relate what "toxic" portfolio means.
They don't even understand the business concept and why it receives a higher evaluation compared to other REITS.
It's basically like data centers. They know they will grow and is a trend of the future at a relative early stage. Same concept here except remember pot must be grown within the same state it's sold/consumer due to transport laws so these grow houses give many entrepreneurs the opportunity to grow without the steep initial investment.
Have a physician friend here in FL. Says since Covid, no shortage of people trying to get prescriptions. People will buy pot in a downturn. Also, should the states/fed gov regulate they will simply use their facilities too just like they do for other REITS.
When you get some facts that back up your claim, let us know.
Barkworth
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Grizzly shorts. Same liars that attacked Truelieve.
They don't even understand the business concept and why it receives a higher evaluation compared to other REITS.
It's basically like data centers. They know they will grow and is a trend of the future at a relative early stage. Same concept here except remember pot must be grown within the same state it's sold/consumer due to transport laws so these grow houses give many entrepreneurs the opportunity to grow without the steep initial investment.
Have a physician friend here in FL. Says since Covid, no shortage of people trying to get prescriptions. People will buy pot in a downturn. Also, should the states/fed gov regulate they will simply use their facilities too just like they do for other REITS.
When you get some facts that back up your claim, let us know.