Cannabis shares coincide with market decline before large earnings reports
The Cannabis shares were mostly lower on Monday, among a huge market tumult associated with a trade dispute between the United States and China.
The Marijuana sector in both Canada and the US was a sea of red ink, with ETFMG Alternative Harvest ETF
MJ, -5.22%
down 5.5% on Monday afternoon trading. Horizons Marijuana Life Sciences Index ETF
HMMJ, -4.23%
was 4.4% and the sister fund, US Marijuana Index ETF, fell 2.8%. Since the beginning of May, all major cannabis listed funds are down more than 7%.
World's second largest cannabis company by market value, Aurora Cannabis Inc.
ACB, -4.03%
ACB, -4.35%
said Monday at Radient Technologies Inc.
RDDTF, + 2.92%
delivered its first group of cannabis derivatives. According to Aurora, Radient's technology is expected to treat 300,000 kilograms of cannabis biomass in one place. The Aurora share fell 4.5% on Monday trading.
Elsewhere in Canada, CannTrust Holdings Inc.
