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Shares of Canopy Growth (CGC) - Get Canopy Growth Corporation Report  fell sharply in after-hours trading Wednesday after its latest financial results disappointed investors.

U.S. listed shares of the Canadian cannabis company fell $3.43, or 11%, to $28.50 in after-hours action.

Canopy reported fiscal first-quarter revenue of C$90.5 million ($67.95 million) vs. C$25.9 million ($19.45 million) in the same period a year ago. Analysts had been looking for revenue of C$122 million ($91.6 million).

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It posted a loss of C$1.28 billion ($960 million), or C$3.70 ($2.78) a share, vs. C$91 million ($68.33 million), or 40 Canadian cents (30 cents) a share, a year earlier.

Cannabis stocks were broadly lower Wednesday amid a market selloff on recession fears.

The Alternative Harvest ETF (MJ) - Get ETFMG Alternative Harvest ETF Report fell $1.80, or 6.22%, to $27.12.

The AdvisorShares Pure Cannabis ETF (YOLO) - Get AdvisorShares Pure Cannabis ETF Report fell $1.08, or 5.12%, to $20.03.

The Horizons Marijuana Life Sciences ETF  (HMLSF) fell 83.84 cents, or 6.37%, to $12.33.