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Sept. 25, 2019, 11:07 a.m. EDT

Cannabis ETF falls toward record low, longest-ever losing streak of 8 sessions

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By Tomi Kilgore

The ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ +3.87% , which tracks the cannabis sector, lost 0.7% in morning trade Wednesday, as a surge in shares of component Philip Morris International Inc. /zigman2/quotes/201611010/composite PM +1.35% wasn't enough to prevent an 8th-straight decline, and a potential 2nd-straight record closing low. Since inception in December 2015, the previous longest losing streak was 7 sessions, which occurred 4 times, in October, July and June of 2018 and January 2016. Among its most active components Wednesday, shares of Philip Morris rallied 6.3% while Altria Group Inc. /zigman2/quotes/208895754/composite MO -1.16% slipped 0.6%, as the companies called off merger talks. Elsewhere, the U.S.-listed shares of Aurora Cannabis Inc.'s /zigman2/quotes/210559470/composite ACB +12.31% /zigman2/quotes/203734337/delayed CA:ACB +11.33% shed 1.4%, Canopy Growth Corp. /zigman2/quotes/200603886/composite CGC +5.74% /zigman2/quotes/202205609/delayed CA:WEED +5.42% edged up less than 0.1% and Tilray Inc. /zigman2/quotes/209129655/composite TLRY +7.06% gave up 0.7%. Over the past three months, the ETF has tumbled 30%, as shares of Aurora fell 37%, Canopy dropped 40% and Tilray lost 43%, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.18% gained 2.0%.

/zigman2/quotes/204332491/composite
US : U.S.: NYSE Arca
$ 15.58
+0.58 +3.87%
Volume: 2.62M
Dec. 2, 2020 8:00p
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/zigman2/quotes/201611010/composite
US : U.S.: NYSE
$ 78.07
+1.04 +1.35%
Volume: 5.42M
Dec. 2, 2020 7:00p
P/E Ratio
15.84
Dividend Yield
6.15%
Market Cap
$121.58 billion
Rev. per Employee
$405,211
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/zigman2/quotes/208895754/composite
US : U.S.: NYSE
$ 40.02
-0.47 -1.16%
Volume: 8.99M
Dec. 2, 2020 7:00p
P/E Ratio
104.00
Dividend Yield
8.60%
Market Cap
$74.37 billion
Rev. per Employee
$2.71M
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/zigman2/quotes/210559470/composite
US : U.S.: NYSE
$ 10.95
+1.20 +12.31%
Volume: 71.25M
Dec. 2, 2020 7:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.99 billion
Rev. per Employee
$76,070
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/zigman2/quotes/203734337/delayed
CA : Canada: Toronto
$ 14.05
+1.43 +11.33%
Volume: 15.97M
Dec. 3, 2020 7:40a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.58 billion
Rev. per Employee
$102,126
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/zigman2/quotes/200603886/composite
US : U.S.: Nasdaq
$ 28.18
+1.53 +5.74%
Volume: 6.60M
Dec. 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$10.47 billion
Rev. per Employee
$115,039
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/zigman2/quotes/202205609/delayed
CA : Canada: Toronto
$ 36.39
+1.87 +5.42%
Volume: 1.81M
Dec. 3, 2020 7:40a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$13.55 billion
Rev. per Employee
$89,935
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/zigman2/quotes/209129655/composite
US : U.S.: Nasdaq
$ 8.64
+0.57 +7.06%
Volume: 29.67M
Dec. 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.25 billion
Rev. per Employee
$101,445
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/zigman2/quotes/210599714/realtime
US : S&P US
3,669.01
+6.56 +0.18%
Volume: 2.37B
Dec. 2, 2020 5:07p
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