Ayr Wellness Flexes As Market Takes Notice

CANNANNEW REPORT

Ayr Wellness Inc. (OTC: AYRWF) hasn’t been around that long but has quickly proven itself to be a contender. Ayr Wellness just announced its 37th dispensary opening in Florida under the Liberty Health Sciences umbrella in Key West. The 1,500 sq. ft. location sits on the main strip of Downtown Key West. The dispensary features a selection of flower products, in addition to the company’s newly launched Origyn concentrates and Big Pete’s Cookies. Jonathan Sandelman, CEO of Ayr, said, “We are continuing to execute on our Florida plan, opening dispensaries in prime locations while continually enhancing our cultivation efforts to make us the highest quality cultivator at scale in the state. Our updated product offerings, including a diversified strain selection and launch of Origyn Extracts and Big Pete’s Cookies, have already contributed to an improved customer experience, and the results are beginning to show.” Viridian analyst Jonathan DeCourcey recently named Ayr Wellness his top MSO (multi-state operator) pick, giving the company a $42 target price. Ayr Wellness was lately selling at $28. AYR management has said it believes its revenues can hit $725 million in 2022 and DeCourcey thinks that could actually be a conservative number. DeCourcey believes the company is “poised for a sizable second-half ramp in results and more importantly transformational growth in 2022 and beyond.” This is a big compliment considering the company has fought its way through the tough markets of Massachusetts and Nevada. The slow roll of the Massachusetts adult-use market crashed headlong into the pandemic lockdowns. While other states allowed the sale of adult-use cannabis to continue, Massachusetts declared only medical marijuana could be sold during those trying times. This setback along with licensing delays wreaked havoc on the business plans of many companies in the state. “Massachusetts will be an outperforming growth market…

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