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Buds & Duds: Innovative Industrial Properties falls on share offering while Grow Generation gains

The North American Marijuana Index nudged higher to 92 points.

Innovative industrial Properties (NYSE:IIPR) was trading 5% lower today. On Monday the San Diego-based company announced it would offer 1.8 million shares of its common stock, using the net proceeds to invest in specialized industrial real estate assets that support regulated cannabis cultivation and processing industry consistent with its investment strategy and for general corporate purposes.

Grow Generation was up more 4 percent in morning trading. The Denver-based seller of specialty hydroponic and organic garden centers today announced a public offering of 7.5 million shares of its common stock at 5 dollars and 60 cents per share expecting gross proceeds to be $42.0 million. The offering was upsized from the previously announced offering size of $35.0 million of common stock.

Quick facts: Innovative Industrial Properties

Price: 96.43 USD

Market: NYSE
Market Cap: $2.09 billion

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