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PYX - Pyxus: Leverage Returns As Key Concern After Frenzy Faded
Pyxus International Inc.
We have covered Pyxus (PYX) twice in the past after the struggling tobacco grower soared along with its announcements to enter the cannabis sector. At the time, we warned investors that Pyxus could face a tough time pulling it off against its struggling core tobacco business and unproven plans to enter cannabis and hemp. Now that investors' interest in cannabis waned, the focus returns to Pyxus' highly leveraged balance sheet and hefty interest payments. We think the stock will remain pressured as it works to ramp up the cannabis and hemp business while