Cannabis stocks are gaining momentum

Cannabis stocks remain on fire as Democrats take control of the White House and Congress. The ETFMG ETF (MJ) represents Canadian stocks, but the AdvisorShares Pure US Cannabis ETF (MSOS) represents the smaller US multi-state operators that have outperformed the larger Canadian players in the past few weeks and months. Stocks like Curaleaf (CURLF), Green Thumb (GTBIF), and Cresco Labs (CRLBF) are based in the United States and are listed in Canada due to legal restrictions, which is why they can be found over-the-counter in the United States. Americans are divided on virtually every major issue, with a cultural war of unprecedented depth that came to a head on a highly controversial election night on November 3rd. While the effects of this struggle still linger, everyone seems to agree on one thing: Weed is a consumer product, not an illegal drug. So here's a look at a handful of compelling names in the field, including: Innovative Industrial Properties Inc (NYSE: IIPR), Green Thumb Industries Inc (OTCMKTS: GTBIF), MedX Holdings Inc (OTCMKTS: MEDH), and Trulieve Cannabis Corp. (OTCMKTS: TCNNF). Innovative Industrial Properties Inc. (NYSE: IIPR) is a Maryland, self-governing company focused on the acquisition, ownership and management of specialty real estate that is rented to experienced, state-licensed operators for their regulated medical cannabis facilities. The company claims to be the first and only real estate company on the New York Stock Exchange to focus on the US regulated cannabis industry. Innovative Industrial Properties Inc. (NYSE: IIPR) recently announced that it has signed a long-term lease with Holistic Industries Inc. (Holistic) for its Los Angeles, California property. As previously reported, Holistic entered into a definitive agreement to acquire the retail, distribution, cultivation and manufacturing licenses for cannabis operations from the tenant of the IIP Los Angeles, California property, who was in receivership. Holistic completed this transaction and at the same time signed a long-term triple net lease with IIP for the entire property. In connection with the planned redevelopment of the property, IIP has agreed to grant Holistic a refund of up to $ 11.0 million. Assuming a full refund for the redevelopment of the property, IIP's total investment in the property will be $ 24.0 million. IIPR stocks have been relatively flat over the past month, with very little net movement over this period. Innovative Industrial Properties Inc (NYSE: IIPR) posted revenue of $ 34.3 million in its most recent quarterly report, representing a revenue growth of 197.1%. In addition, the company has a strong balance sheet, with cash well exceeding current liabilities ($ 612.3 million versus $ 0).