Cannabis stocks are on fire once again. There are a handful of top performing themes right now in the market, and cannabis stocks have moved back to the front of the pack for the first time since 2018, when people called it a “pot stock bubble”.

Now, we are starting to see some similar relative momentum in the space, but it isn’t being viewed as a bubble because the companies are growing into their caps fast, and the next level is coming. Legislative catalysts are thick on the ground as well, with the ascendancy of the left in political leadership, and its sympathy with the legalization agenda.

Profits follow widening access on a legal level in this space. And the market skates to the future position of the puck. Rinse and repeat.

Hence, we take a look here at a handful of compelling names in the space, including: Innovative Industrial Properties Inc (NYSE:IIPR), FutureLand Corp (OTCMKTS:FUTL), and Green Thumb Industries Inc (OTCMKTS:GTBIF).

Innovative Industrial Properties Inc (NYSE:IIPR) is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities.

The company touts itself as the first and only real estate company on the New York Stock Exchange focused on the regulated U.S. cannabis industry.

Innovative Industrial Properties Inc (NYSE:IIPR) recently announced that it closed on the acquisition of a property in Alachua, Florida, which comprises approximately 295,000 square feet of industrial space.

“We are thrilled to form our new real estate partnership with Harvest,” said Paul Smithers, President and Chief Executive Officer of IIP. “Harvest has established a tremendous footprint in its four core markets of Arizona, Florida, Maryland and Pennsylvania, and continues to execute strongly on its targeted growth and expansion in those markets. We look forward to working closely with Harvest to complete the build out of additional enhancements and productive capacity at the Alachua facility, which will enable their continued expansion in Florida to meet the tremendous demand from the over 460,000 registered patients in the state, the largest registered patient population of the 35 medical-use cannabis programs in the United States.”

Even with that news, the action hasn’t really heated up in the stock, with shares moving net sideways over the past week.

Innovative Industrial Properties Inc (NYSE:IIPR)) managed to rope in revenues totaling $34.3M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 197.1%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($612.3M against $0).

FutureLand Corp (OTCMKTS:FUTL) promulgates itself as a cannabis and hemp land leasing company based in Colorado and formed to capitalize on the emerging global cannabis market. FutureLand focuses on target acquisition, zoning, license fulfillment, site plan preparation and financing of cannabis or hemp grow facilities throughout the United States.

The company gives growers the opportunity to grow. It monetizes through leasing the land, leasing the structures on the land, financing interest revenue and management fees associated with cultivation centers. FutureLand retains ownership of all the land and the structures we build on the land. FutureLand leases to both medical marijuana, retail marijuana as well as industrial hemp growers. FutureLand’s focus is on growing, dispensing, and extracting cannabis.

FutureLand Corp (OTCMKTS:FUTL) has been somewhat dark of late in terms of its company communications, but shares of the stock have been on the move suggesting that some insider activity may be on the rise, which could mean some new catalysts are on the way.

The cannabis space is cooking red hot right now and a new name with fresh catalysts could spark interest. The stock is also heavily shorted, which means momentum can beget further momentum, especially given this unique context where retail traders are banding together to run out shorts in high momentum market segments.

FutureLand Corp (OTCMKTS:FUTL) had no reported sales in its last quarterly financial data. But, as noted, some new information could be coming soon.

Green Thumb Industries Inc (OTCMKTS:GTBIF) bills itself as a company that manufactures and sells various cannabis products in the United States. The company’s cannabis products include flower, concentrates for dabbing and vaporizing, edibles, and topicals.

According to company materials, “Green Thumb Industries (GTI), a national cannabis cultivator, processor, and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which they serve. As a vertically integrated company, GTI manufactures and sells a well-rounded suite of branded cannabis products including flower, concentrates, edibles, and topicals. The company also owns and operates a rapidly growing national chain of retail cannabis stores called RISE(TM) dispensaries.”

Green Thumb Industries Inc (OTCMKTS:GTBIF) just announced it will open Rise Erie Peach in Pennsylvania, its 52nd retail location in the nation. Profits from the first day of sales will be donated to Community Shelter Services whose mission is to preserve the dignity and support the development of individuals who are homeless or at risk of homelessness by providing temporary, transitional and permanent shelter, as well as support services, referrals, advocacy and community education.

“Erie is a special place for Green Thumb as it’s where we opened our very first store in the state and have meaningful ties throughout the community and with our patients,” said Green Thumb Founder and Chief Executive Officer Ben Kovler. “We are honored to open a second location in Erie and expand our presence there to serve more people. Our team is also grateful to support Community Shelter Services’ important work of advocating for the homeless and providing shelter and critical services, especially during these challenging times.”

The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 20% in that timeframe. Shares of the stock have powered higher over the past month, rallying roughly 28% in that time on strong overall action.

Green Thumb Industries Inc (OTCMKTS:GTBIF) pulled in sales of $209.3M in its last reported quarterly financials, representing top line growth of 133.2%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($104.3M against $141.5M, respectively).