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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 -0.31% , 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 -0.88% 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 -0.18% 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 -2.09% /zigman2/quotes/203734337/delayed CA:ACB -2.32% shed 1.4%, Canopy Growth Corp. /zigman2/quotes/200603886/composite CGC -1.03% /zigman2/quotes/202205609/delayed CA:WEED -1.61% edged up less than 0.1% and Tilray Inc. /zigman2/quotes/209129655/composite TLRY -1.56% 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 +0.78% gained 2.0%.

/zigman2/quotes/204332491/composite
US : U.S.: NYSE Arca
$ 13.04
-0.04 -0.31%
Volume: 328,159
July 8, 2020 4:00p
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/zigman2/quotes/201611010/composite
US : U.S.: NYSE
$ 72.30
-0.64 -0.88%
Volume: 7.50M
July 8, 2020 4:00p
P/E Ratio
14.74
Dividend Yield
6.47%
Market Cap
$113.58 billion
Rev. per Employee
$382,519
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/zigman2/quotes/208895754/composite
US : U.S.: NYSE
$ 39.87
-0.07 -0.18%
Volume: 7.53M
July 8, 2020 4:02p
P/E Ratio
N/A
Dividend Yield
8.43%
Market Cap
$74.22 billion
Rev. per Employee
$2.36M
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/zigman2/quotes/210559470/composite
US : U.S.: NYSE
$ 12.16
-0.26 -2.09%
Volume: 2.74M
July 8, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.40 billion
Rev. per Employee
$94,401
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/zigman2/quotes/203734337/delayed
CA : Canada: Toronto
$ 16.45
-0.39 -2.32%
Volume: 721,994
July 8, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.90 billion
Rev. per Employee
$123,163
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/zigman2/quotes/200603886/composite
US : U.S.: NYSE
$ 16.33
-0.17 -1.03%
Volume: 2.00M
July 8, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.11 billion
Rev. per Employee
$115,039
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/zigman2/quotes/202205609/delayed
CA : Canada: Toronto
$ 22.06
-0.36 -1.61%
Volume: 658,418
July 8, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$8.29 billion
Rev. per Employee
$150,142
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/zigman2/quotes/209129655/composite
US : U.S.: Nasdaq
$ 7.58
-0.12 -1.56%
Volume: 4.72M
July 8, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$961.44 million
Rev. per Employee
$62,689
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/zigman2/quotes/210599714/realtime
US : S&P US
3,169.94
+24.62 +0.78%
Volume: 2.39B
July 8, 2020 4:58p
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