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Cannabis Watch: Biggest-ever U.S. cannabis acquisition deal helps boost buying in marijuana sector

A C$1.1 billion cannabis deal announced Monday helped to spark a broad rally in the broader marijuana sector to start the second quarter, even if shares of Origin House fell Monday as news broke of its acquisition by Chicago-based Cresco Labs Inc.

The ETFMG Alternative Harvest exchange-traded fund MJ, +0.84% rose 0.9% in afternoon trade, with 24 of 34 components trading higher. The ETF had soared 46% in the first quarter, the largest quarterly gain since inception in December 2015.

The Horizons Marijuana Life Sciences Index HMMJ, +0.70% advanced 0.5%, after rocketing 50% in the first quarter.

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