September 14, 2018 / 1:15 PM / 2 months ago

BUZZ-U.S.-listed Canadian weed stocks slip, Tilray drops 16 pct

** U.S.-listed shares of Canadian marijuana producers drop premarket, with Tilray Inc slumping the most, down 16 pct at $100.61

** Canadians working in marijuana industry and those who invest in the sector risk a lifetime ban on travel to the U.S. - Politico reports politi.co/2xdhIqo, citing a senior official overseeing U.S border operations

** Rivals’ shares also decline: Cronos Group Inc 9.2 pct, Canopy Growth Corp 5 pct

** Shares of marijuana producers have been surging in the recent past ahead of Canada legalizing retail sales of the plant, starting Oct. 17

** Tilray stock has zoomed 420 pct since its IPO in mid-July, while CGC has risen 73 pct, CRON 54 pct

** ETFMG Alternative Harvest ETF up 16 percent over the past three months

** “There has been a lot of talk about if there will be a pullback or not because a lot of companies have been trading at high valuations, so we expect it’s just a sell the winners type of mentality,” - Daniel Pearlstein from Eight Capital (Reporting by Karan Nagarkatti and John Benny)

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