Top 5 Marijuana Stocks to Invest In Right Now

2. Ayr Wellness Inc. (CNSX:AYR-A.CN)

Stock Price as of April 22, 2022: $11.08

Ayr Wellness Inc. (CNSX:AYR-A.CN) cultivates, produces, and retails cannabis products and branded cannabis packaged goods as a vertically-integrated cannabis multi-state company.

A report released by Ayr Wellness Inc. (CNSX:AYR-A.CN) reveals that they hit a revenue of $111.8 million for the fourth quarter of 2021, which is a 16% increase from the third quarter of $96.2 million. A total of $357.6 million for the revenue of fiscal year 2021 was reported which is also a 130.6% increase from the fiscal year 2020 of $155.1 million.

Ayr Wellness Inc. (CNSX:AYR-A.CN) intends to expand to 12 to 15 states in the future, but will not seek prospects in Maine, Vermont, Washington, Oregon, or Oklahoma. New York, on the other hand, matches the firm’s profile as a potentially profitable market.

Needham analyst Matt McGinley reduced the firm’s price objective on Ayr Wellness Inc. (CNSX:AYR-A.CN) to $28 from $35 but maintains a ‘Buy’ rating on the stock ahead of the company’s fourth-quarter earnings. McGinley stated that the firm should slightly surpass its revenue growth projection of “over 10%,” but he also anticipates a fall in EBITDA rate as it supports retail addition and invests in cultivation development into fiscal year 2022.