What is going on with AYRWF?
Ayr Wellness (AYWRF) stock is higher today after the cannabis multi-state operator announced the upcoming opening of a new dispensary in Florida City, Florida. The new location is expected to open on Friday, May 21, 2021.
The dispensary will be under the Liberty Health Science banners company that was acquired by Ayr on February 26, 2021, in an all-stock transaction. Shares of AYRWF declined 2.16% to $27.11 as of Wednesday at 11:08am.
What does this mean for Ayr Wellness?
The opening of Ayr’s Florida City dispensary represents a significant milestone for the company as the location will be Ayr’s 35th in Florida. The Liberty Health Science dispensary will also be the first one to open in the Greater Homestead/Florida City area, two cities with a population of approximately 80,000.
Ayr is seeking to take advantage of the rapid growth of the cannabis industry in Florida, and plans to have 42 stores open in Florida by the end of 2021. The Florida medical marijuana market continues to show robust growth, with the Florida Office of Medical Marijuana Use reporting over 556,000 registered patients as of May 14, 2021, up 63% year-over-year.