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Cannabis Watch: Marijuana stocks fall in worst-ever day for the sector

Marijuana stocks suffered broad and sharp losses Monday, and were headed for their worst five-session skid in over eight months as full-legalization in Canada appears to have taken the shine off the sector despite early indications of strong demand.

The ETFMG Alternative Harvest exchange-traded fund MJ, -9.36% tumbled 9.4% by the close, with 28 of 37 components losing ground and 16 of the decliners shedding more than 5%. The ETF has lost roughly 20% amid a five-session losing streak, the biggest such loss since the ETF’s inception on Dec. 3, 2015. Canada-traded Horizons Marijuana Life Sciences Index ETF HMMJ, -11.60% also fared poorly, plummeting 11.6%, the largest drop in the fund’s history.

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