- Despite early indications of strong demand for cannabis, most of the stocks trade near the recent multi-year lows due to fears the coronavirus outbreak eventually does damage demand.
- Ayr Strategies does rely heavily on Nevada dispensaries where a substantial decline in tourist traffic could greatly hit stores with impressive annual revenues of $17 million each prior to the coronavirus outbreak.
- The company guided to 2020 EBITDA of nearly $100 million providing substantial ability to weather any protracted economic storm that actually impacts the cannabis sector.
- Overall, AYR Strategies is a Wall Street favorite, earning one of the best analyst consensus ratings in the market.
- With a return potential of 162%, the stock’s consensus target price stands at $13.23.
Read full article: finance.yahoo.com