Ayr Wellness Inc
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Health Care : Pharmaceuticals | Small Cap Value
Company profile

Ayr Wellness Inc. is a vertically integrated, United States (U.S) multi-state cannabis operator. The Company cultivates and manufactures branded cannabis products for distribution through its network of retail outlets and through third party stores. Its products include marijuana flower, concentrates, cartridges, vapes, seltzers, tinctures, topicals and edibles. Its flower product is a smokable part of the cannabis plant. Its concentrates are cannabis products that have been processed to remove extraneous components, leaving only the active compounds, primarily cannabinoids and terpenes. The vapes are devices that is pre-filled with extracted cannabis oils. Its tinctures are an alcohol or glycerol-based liquid cannabis extracts. Its topicals is a cannabis-infused skin product, such as lotions, creams and balms. Its brands include Kynd, Origyn, Stix Preroll Co. and Levia. Through Herbal Remedies Dispensaries, LLC, it operates two licensed retail dispensaries in Quincy, Illinois.

Price
Delayed
$1.28
Day's Change
0.04 (3.23%)
Bid
--
Ask
--
B/A Size
--
Day's High
1.31
Day's Low
1.22
Volume
(Heavy Day)

Today's volume of 137,389 shares is on pace to be much greater than AYRWF's 10-day average volume of 142,015 shares.

137,389

Lyft stock downgraded amid concerns about economic pressures, insurance costs

8:30 am ET November 22, 2022 (MarketWatch)
Print

Shares of Lyft Inc. were down more than 1% in premarket trading Tuesday after Cowen & Co. analyst John Blackledge downgraded the stock to market perform from outperform, writing of potential pressures stemming from insurance costs and the macroeconomic climate. On Lyft's last earnings call, President John Zimmer said that inflationary pressures and rising insurance costs were an "industry issue" and that they were "primarily driven by rising premiums as a result of higher cost of used vehicles, vehicle repair, higher medical costs and increased litigation costs." Cowen's Blackledge wrote late Monday that insurance costs "could remain a [near-term] headwind to margins" for Lyft, adding that they are "exacerbated by recent inflationary pressures." He also is concerned that a recession would limit upside opportunities when it came to "rider use cases" since people could become less likely to go out at night. "We acknowledge that a recession should drive better driver supply and lower driver [acquisition] costs (from higher unemployment), but we would be concerned about impact from a slowing top line," Blackledge wrote. He cut his price target to $14 from $36 on shares of Lyft, which have fallen 74% so far this year as the S&P 500 has declined 17%.

-Emily Bary

	

(END) Dow Jones Newswires

November 22, 2022 08:30 ET (13:30 GMT)

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