Cannabis stocks join market downturn ahead of major earnings reports

Cannabis stocks were mostly lower Monday, amid a broad market tumble related to a trade fight between the U.S. and China.

The world’s second largest cannabis company by market value, Aurora Cannabis Inc. ACB, -4.01% ACB, -4.26% said Monday that Radient Technologies Inc. RDDTF, +2.92% delivered its first batch of cannabis derivatives. According to Aurora, Radient’s technology is expected to be able to process about 300,000 kilograms of cannabis biomass at a single location. Aurora stock fell 4.5% in Monday trading.

Canopy Growth Corp. CGC, -6.95% WEED, -6.89% fell 7.1%, Tilray Inc. TLRY, -7.58% was down 9.2%, Cronos Group Inc. CRON, -6.43% CRON, -6.49% fell nearly 8% and Aphria Inc. APHA, -5.75% APHA, -5.41% was down 7.1%.This week is a significant one for cannabis sector earnings. Tilray and Aurora are both set to report earnings Tuesday after the closing bell, though Aurora’s conference call is expected Wednesday morning. CannTrust and Dutchman are also expected to report Tuesday.

Green Organic Dutchman Holdings Ltd. TGOD, -3.27% , TGODF, -4.47% which has not yet sold any recreational cannabis in Canada, signed a distribution agreement for one of its cannabidiol, or CBD, brands for the German pharmacy market. Dutchman stock was down 4.6%.In the U.S., Acreage Holdings Inc. ACRGF, -6.64% said Monday that it was selling its real-estate assets to a real-estate investment trust that had been recently formed.

Shocking. I thought MJ stocks were going to be the blue chips of tomorrow..

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Dow plunges more than 700 points intraday Monday as trade-related stock-market losses gather steamThe stock market on Monday touched an intraday low, with the Dow sinking over 700 points amid escalating U.S.-China trade aggressions that have roiled... Thanks, realDonaldTrump! Dow hasn’t heard about the beautiful letter from President Shi which just arrived... Good.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »

Asian stocks move lower Monday as markets react to failed U.S.-China trade talks in WashingtonShares were mostly lower in Asia on Monday after trade talks between the U.S. and China wrapped up Friday without an agreement.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »