Cannabis stock traded broadly lower Friday, putting the sector on track for a fourth-straight loss, as Hexo Corp. shares extended losses toward a 3-month low in the wake of disappointing quarterly results (ETFMG Alternative Harvest ETF (MJ) dropped 2.1%, as 31 of 38 components sold off, and the Horizons U.S. Marijuana Index ETF shed 3.2%. The ETFMG ETF has now lost 5.2% over the past four sessions. Among the sector's more-active components, shares of Hexo Corp. dropped 4.1%, after losing 8.8% on Thursday, to put them on track for the lowest close since March 12. Elsewhere, shares of Aurora Cannabis Inc. (ACB.T) inched up 0.1%, after losing 4.7% over the past three days; Cronos Group Inc. (CRON.T) dropped 5.7%; Aphria Inc. (APHA.T) shed 2.0%; and Canopy Growth Corp. (WEED.T) declined 2.0%. The ETFMG ETF has now shed 15% over the past three months while the S&P 500 has gained 2.7%.). The
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 14, 2019 13:54 ET (17:54 GMT)
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