Ayr Wellness Inc. is rallying for a second straight day on Wednesday after posting first-quarter results that included positive moves on its balance sheet, stronger-than-expected revenue and a 200-person reduction in head count.
Ayr Wellness’s AYRWF stock is up 18% to $1.18 in its first trading day holding above $1 a share since early March. The company also managed to build up its cash by $20 million while focusing on cost-cutting and expanding in new markets.Ayr also boosted its liquidity by reaching agreements with the sellers for amendments to contingent consideration for its acquisitions of Garden State Dispensary in New Jersey and Sira Naturals in Massachusetts.
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