A lot could change for the cannabis industry over the next six months. In Canada, the new cannabis derivatives market could pick up momentum — or not. In the U.S., the November elections hold the potential to set the stage for potential marijuana legalization at the federal level or push back any such hopes for several more years. What happens next with the COVID-19 pandemic could make the biggest impact of all.
With all of these uncertainties, marijuana stocks could be highly volatile for the rest of the year. Here are three top marijuana stocks, though, that appear to be great picks to buy for the second half of 2020.
1. Innovative Industrial Properties
Innovative Industrial Properties (NYSE:IIPR) ranks as one of the few cannabis stocks that performed well during the first half of 2020. Shares of the medical cannabis-focused real estate investment trust (REIT) jumped 16%, albeit with some big up-and-down swings along the way. I think IIP should be able to keep up its winning ways over the next six months and beyond.
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