Innovative Industrial Properties (NYSE:IIPR) and Tilray (NASDAQ:TLRY) are two cannabis stocks that recently reported stellar quarterly results. Does the recent uptick in stock prices provide a good entry point for investors? Let’s see what drove revenue and earnings for the two companies in the last quarter.The cannabis industry will continue to attract investors as it is a sector poised for massive growth in the upcoming decade. In the not too distant future, the U.S. is likely to decriminalize or even legalize marijuana for recreational use which will provide cannabis producers access to the largest market in the world, making them quality long-term bets.
The recent quarterly results have shown that pot companies are focused on improving their bottom-line while targeting robust growth in sales. These strategies have enabled some companies to report enviable results in Q2, driving share prices higher.
Here, we take a look at Innovative Industrial Properties (IIPR) and Tilray (TLRY). Both stocks have seen an uptick in stock prices post their quarterly results.