Tilray slid more than 19 per cent on Monday, running the Nanaimo, British Colombia-based company's declines into a third-straight day, its longest losing streak since the stock began trading in July.

The company's shares were down 19.11 per cent - or US$23.50 - to close Monday trading at US$99.50 as of 11:10 a.m. ET. The stock hit a session low of US$98.60 at 9:32 a.m. ET.

Shares ended last week higher by 13 per cent to US$123 each, only after taking investors on a ride that saw the stock reach as high as US$300 per share and as low as US$114.

Peers in the emerging cannabis sector also fell Monday, with U.S.-listed shares of Cronos Group (CRON.TO) down 4.38 per cent. Canopy Growth Corp. fared better, gaining 5.41 per cent on Monday.

New Age Beverages, which last week said it was exploring cannabis-infused drinks, fell 35.6 percent; the stock was downgraded at Maxim Friday after gaining as much as 528 per cent in the week.

- with files from BNN Bloomberg

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