Cannabis stocks tumble with broader market, Cronos surprises with small profit

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 61 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 97%

Nigeria News News

Cannabis stocks tumbling alongside broader market Thursday

Cannabis stocks fell Thursday, swept up in the broader stock market rout as trade tensions between China and the U.S. ramped up after President Donald Trump threatened further tariff retaliation.

The two main cannabis exchange-traded funds have fallen in sympathy. The Horizons Marijuana Life Sciences ETF and the ETFMG Alternative Harvest ETF have both declined more than 4% in the week so far. The survey comes ahead of the legalization of edibles in Canada in October. Only 36% of those surveyed said they would purchase cannabis-infused food products, down from 46% in the 2017 survey.“With cannabis edibles being legalized in October, we are frankly curious about the decrease in interest expressed by survey respondents,” said Brian Sterling, one of the report’s co-authors. “We would like to understand that shift.

Aurora Cannabis Inc. ACB, -2.27% ACB, -1.90% shares fell 3.6%. The company said it has been selected by the Luxembourg Health Ministry to be exclusive supplier of a second delivery of medical cannabis to the Duchy. The company said the initial bid quantities are small, but that it showed its ability to work in complex, restricted markets.

Elsewhere in the sector, Aphria Inc. APHA, -3.17% APHA, -3.10% was down 3.5% and Hexo Corp. HEXO, -3.21% was down 3.6%. Market leader Canopy Growth Corp. CGC, -3.63% WEED, -3.13% was down 3.3%. Tilray Inc. TLRY, -1.76% fell 2.5%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gundlach says stock market still in a bear market, sees high chance of tariff hikeJeffrey Gundlach of DoubleLine says stocks continue to behave like they’re in a bear market and that there’s a more-than-50% probability the U.S. raises tariffs on Chinese goods, escalating the trade conflict. Still? I must have missed that memo The next right call he makes will be the first one he’s made in years. But yeah, let’s keep putting him on TV and getting his thoughts.
Source: MarketWatch - 🏆 3. / 97 Read more »

China stocks fall most in over three years on tariff threats, yuan tumblesChinese investors, caught off guard by U.S. President Donald Trump's tariff... Tomorrow, if China decides to stop buying T bills......we are sunk! Happpier to reach the goal of giving the country only a word with a rotten type is also needed if you want to poke who
Source: Reuters - 🏆 2. / 97 Read more »

ETF Spotlight: Small-cap versus large-cap stocksCNBC's Mike Santoli takes a look at large-cap as compared to small-cap stocks in the midst of on-going trade tensions between the U.S. and China. michaelsantoli Flows into SmallCap ETFs have been pretty solid over the past few months. Have to think, after great earnings season, they begin to materially outperform large-caps as fundamentals favor smaller domestic US companies. WednesdayWisdom WednesdayThoughts
Source: CNBC - 🏆 12. / 72 Read more »