MJ - ETFMG Alternative Harvest ETF

NYSEArca - NYSEArca Delayed Price. Currency in USD
-0.11 (-0.47%)
At close: 4:00PM EDT
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Previous Close23.30
Bid0.00 x 800
Ask0.00 x 900
Day's Range0.00 - 0.00
52 Week Range
Avg. Volume489,690
Net Assets891.06M
PE Ratio (TTM)N/A
YTD Return-4.77%
Beta (3Y Monthly)2.26
Expense Ratio (net)0.75%
Inception Date2015-12-03
Trade prices are not sourced from all markets
  • ‘Don’t smoke the Kool-Aid,’ analyst says in sober note on the cannabis sector

    ‘Don’t smoke the Kool-Aid,’ analyst says in sober note on the cannabis sector

    MKM Partners initiated coverage of five Canadian cannabis companies and two U.S. multi-state operators on Friday with a cautious outlook, arguing that the current business model of cultivation will become commoditized and make it difficult for companies to build strong brands.

  • One More Marijuana ETF on the Block

    One More Marijuana ETF on the Block

    As Global X launches a fresh pot ETF, let's explore the product in detail.

  • Benzinga

    Hall Of Flowers Freshmen Class: All The Brands And Products Debuting At The California Event

    Hall of Flowers has become one of the leading events in the cannabis industry, especially for B2B networking – needless to say, the Benzinga Cannabis Capital Conference remains our favorite investor-focused ...

  • Benzinga

    POTX: A Potent Pot ETF Debuts

    Cannabis investing enthusiasts now have a sixth exchange traded fund to consider following the Thursday debut of the Global X Cannabis ETF (NASDAQ: POTX ). POTX tracks the Cannabis Index, making it the ...

  • Business Wire

    MJ, The World’s Largest Cannabis ETF, Declares Quarterly Dividend

    MJ, The ETFMG Alternative Harvest ETF , the largest cannabis ETF in the world, has declared an approximate $10.6 million quarterly dividend which equates to $0.28 per share.

  • Benzinga

    Cannabis Deals And M&A Picking Up Steam Again

    The Viridian Cannabis Deal Tracker is an information service that monitors capital raise and M&A activity in the legal cannabis industry. Analyzing within 12 key industry sectors, the Viridian Cannabis Deal Tracker provides cannabis companies, investors, and acquirers with the data, trends, and intelligence they need to make informed decisions regarding deal valuations, terms, and structures. Since its inception, the Viridian Cannabis Deal Tracker has tracked and analyzed more than 2,400 capital raises totaling over $29 billion as well as more than 800 M&A transactions.

  • Benzinga

    Why Wouldn't You Attend The Cannabis Capital Conference In Chicago?

    The Benzinga events team continues to bring top-notch events to leading markets like New York City, San Francisco, Toronto, Miami, Detroit — and now Chicago. If you consider yourself to fall into the following categories, our Cannabis Capital Conference may not be the best fit. If not, the Benzinga Cannabis Conference is the ideal place to make connections, learn about the space and find your next investment.

  • Benzinga

    Exclusive: Meet The New $75M Cannabis Fund Focused On 'Tangentially-Related Service Businesses'

    Hydroponics Inc., a national provider of agricultural supplies and logistics specific to the cannabis and hemp industries, is launching a multi-million-dollar special acquisition fund. The company said it will deploy up to $75 million to acquire tangentially-related service businesses within the North American cannabis industry over the next 24 months. The company told Benzinga the goal is to construct a portfolio of established companies characterized by profitable operating histories, high-margins, and low customer concentration - all against the backdrop of a data-driven platform.

  • Benzinga

    Podcast: The Evolution Of Cannabis Legalization With Benzinga's Javier Hasse

    Podcast via Kannaboomers . “ This is a social movement that is moving forward faster than any other social movement in the world and probably in history. “ — Javier Hasse History is being made, day by ...

  • Benzinga

    Meet Pluto, The New Cannabis Brand That Just Gets What Cool People Like Nowadays

    Pluto is officially debuting this week at famed cannabis event Hall Of Flowers. “At Pluto, you will find a diversity of characters, from overlapping decades, peacefully coexisting with one another. Pluto is a cannabis concentrates maker.

  • Benzinga

    What Is The Future Of CBD Industry In The United States?

    The next day, it seems that CBD products and their advertisements are everywhere. Thanks to the Hemp Farming Act of 2018 signed by Donald Trump, CBD products are not only widely available in the US but is now very high demand. The farm bill made industrial hemp legal in addition to legalizing recreational and medical cannabis at the state level.

  • Benzinga

    How To Navigate The Cannabis ETF 'Craze'

    The launch of four new cannabis ETFs in 2019, paired with the recent filing for yet another one, has many investors wondering how to navigate amongst the options as they seek exposure to the growing cannabis industry. The oldest and still largest cannabis ETF on the market is the ETFMG Alternative Harvest ETF (NYSE: MJ). The MJ investment objective is quite broad, and an examination of the portfolio indicates more than 17% is allocated to tobacco stocks, with other sizable positions including fertilizer companies, breweries and real estate investment trusts (REITs).

  • Benzinga

    Cannabis Capital Raises Slow Down Alongside Capital Markets

    The Viridian Cannabis Deal Tracker is an information service that monitors capital raise and M&A activity in the legal cannabis industry. Analyzing within 12 key industry sectors, the Viridian Cannabis Deal Tracker provides cannabis companies, investors, and acquirers with the data, trends, and intelligence they need to make informed decisions regarding deal valuations, terms, and structures. Since its inception, the Viridian Cannabis Deal Tracker has tracked and analyzed more than 2,400 capital raises totaling over $29 billion as well as more than 800 M&A transactions.

  • Benzinga

    Florida's Vast Cannabis Market Potential Is The Difference Between 'And' Or 'Or'

    Florida has so much untapped marijuana and hemp potential. In Florida, medical marijuana is available for serious health conditions such as cancer, Crohn’s disease, multiple sclerosis and post-traumatic stress disorder, and chronic pain associated with those conditions. Since the state’s introduction of its medical marijuana laws in January of 2017, Florida has enrolled 350,000 patients according to the August 23, 2019 report from the Office of Medical Marijuana Use.

  • Benzinga

    California Cannabis Legislation In 2019: A Look At What Passed, Stalled In Sacramento

    It’s been a busy year for the California legislature, and like most of the previous seasons, cannabis has been at the top of lawmaker’s desks. Oct. 13 is the last day for Gov. Gavin Newsom to sign or veto bills passed by the legislature on or before Sept. 13. The Budget Trailer Bill, also known as Assembly Bill 97, was the most significant milestone for the California cannabis industry, said Josh Drayton, the communication and outreach director for the California Cannabis Industry Association.

  • As Canadians Get Ready for Edibles, is Hexo Stock Ready to Bounce?

    As Canadians Get Ready for Edibles, is Hexo Stock Ready to Bounce?

    Since hitting a 52-week high of $8.40 in April, Hexo (NYSE:HEXO) slid down for the last several months and has since been trading sideways within the $4-$4.50 range. In fact, HEXO stock, now in negative territory for 2019, has lagged other pot stocks generally as compared to the Alternative Harvest ETF (NYSE: MJ).Source: Shutterstock That MJ exchange-traded fund is up slightly by 1.4% for the year. HEXO stock is the seventh-largest holding in the fund's 37-pot stocks portfolio. Now with the fall investor season in full swing, Hexo may be finally ready to break out of the trading band after their next quarterly earnings call later today.The cannabis sector is well known for highly cyclical boom and bust trends. When trading finally moves from sideways to a bounce back, here are three key reasons why Hexo is a pot stock to watch. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Canada's Cannabis 2.0 Around the CornerHexo is one of the Big Five Canadian cannabis stocks. As such, Hexo stock will likely be a prime target of investor interest next month. As part of the ongoing process of national legalization of cannabis in Canada, Oct. 17 marks the date when it becomes legal to sell cannabis extracts. The first round of legalization in Canada began in 2018 but applied only to dried marijuana. The legislation scheduled to take effect next month will bring into the Canadian market a vast range of cannabis-infused edible products that will be far more appealing to a broader audience."The edibles market is estimated to be worth at least $1.6 billion a year in Canada, with cannabis-infused beverages adding a further $529 million," according to Jennifer Lee, Deloitte Canada's Cannabis national lead. "The introduction of cannabis-infused edibles will clearly threaten the alcohol industry as consumers are using the product for similar usage occasions," she wrote recently. * 7 Deeply Discounted Energy Stocks to Buy Hexo has been patiently waiting to pounce on the newly expanded market and has already developed cannabis-infused gummy candies, a premium vape line as well as several cannabis-infused beverages. Powered by Hexo: Innovation will Protect MarginsAs the global cannabis market expands, commodification is inevitable. That is, a bulk of consumers may simply seek their best bang for the buck.Generic cannabis producers focusing purely on high output and low price could get caught in a price squeeze. Seeing the long-term direction of the market, Hexo has invested heavily in R&D and product innovation to enhance the brand value of a "Powered by Hexo" product line. "Building our innovative technology is critical in building a brand. We believe that brand will be the final moat by which CPG cannabis companies are differentiated," explained Sebastien St-Louis, Hexo co-founder and CEO, on a recent earnings call."We're continuing to expand our R&D and innovation team with top scientists, chemists who have extensive experience in CPG companies. We now have 25 PhDs on staff. They're focused on developing new and innovative products for the market and best-in-class technology for our Powered by HEXO experiences," he said Strong Top Line RevenuesThe global cannabis market is still in the very early stages where firms are focusing primarily on building infrastructure, expanding distribution channels, and creating a market presence among new consumers.While Hexo is certainly building production capacity and distribution as well as creating a valuable brand identity, it is undoubtedly furiously growing top-line revenue. Hexo's total gross revenue was CAD 15.9 million ($12.05 million) for Q3 2019, 11.8x over the same quarter in 2018. Hexo expects revenue to double in Q4 2019, particularly as it starts to expand aggressively beyond Quebec. * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off Undoubtedly, there is much risk inherent in Hexo's financials, as well as the entire pot stock sector. Hexo operating cash flow is negative, and operating losses continue to mount. Further, many investors are becoming wary of the ebbs and flows of political sentiment about new cannabis laws in the US, where the Republican-controlled Senate has so far expressed near-zero support for legalization.However, all these risks are already well and truly baked into the Hexo stock price. A favorable earnings call this month may be all it takes to see Hexo stock rebound for its current sideways trading pattern. Given the intraday volatility, Hexo may be a good buy on any market dip.As of this writing, Theodore Kim has no positions in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell in Market-Cursed September * 7 of the Worst IPO Stocks in 2019 * 7 Best Stocks That Crushed It This Earnings Season The post As Canadians Get Ready for Edibles, is Hexo Stock Ready to Bounce? appeared first on InvestorPlace.

  • Benzinga

    Feds To Propose Boost In Marijuana Quota For Research, Cut To Opioid Manufacturing Limit

    Federal drug enforcement officials want to boost the amount of marijuana that can be legally produced for research in the United States while cutting the number of opioids that can be manufactured in the country. The U.S. Drug Enforcement Administration said in a press release Wednesday that it will propose to boost the amount of marijuana produced for research next year by nearly a third, to 3,200 kilograms. The agency said that over the last two years the number of people registered by the DEA to conduct research with marijuana, marijuana extracts and derivatives has increased by more than 40%, making the increase in production necessary.

  • Cannabis Short Sellers' YTD Losses Have Reduced 60% Since July

    Cannabis Short Sellers' YTD Losses Have Reduced 60% Since July

    Investors betting against cannabis companies have much to celebrate as stocks in the sector sputter and swoon.

  • Buy Aurora Cannabis (ACB) Stock Before Earnings, Despite Marijuana Volatility?

    Buy Aurora Cannabis (ACB) Stock Before Earnings, Despite Marijuana Volatility?

    Despite growing sales and wider legalization, many pot stocks have been insanely volatile as Wall Street and investors try to wrap their heads around the marijuana industry. So should you think about buying "cheap" Aurora Cannabis (ACB) Stock before Q4 earnings?

  • Tilray (TLRY): The Lock-Up Story Remains an Overhang for the Stock

    Tilray (TLRY): The Lock-Up Story Remains an Overhang for the Stock

    Watch the author’s track record on TipRanksThe cannabis sector has seen an unusual pattern of executives agreeing to extended share lock-up extensions due presumably that insiders are looking to dump shares. Tilray (TLRY) is the latest company to finalize a lock-up agreement that adds more confusion than safety for the stock now trading all the way down at $30.Adds Confusion The biggest question for Tilray investors is why the executives even need to make an agreement, so the top shareholder won’t sell shares. What does Privateer matter considering the initial investors hold 75 million Tilray shares or 77% of Tilray’s total shares.Privateer can’t unload shares without cratering the stock so a lock-up that extends the holding period a couple of more years doesn’t delay the ultimate risk in the stock. If anything, this move adds confusion for an IPO completed over a year ago where any lock-up would have already been over and the market would have more confidence that the leading shareholders aren’t looking to unload shares.The deal includes limits on any share sales during the first year arranged at the sole discretion of Tilray. At the end of the first year, 50% of the 75 million shares subject to the lockup will be released. Over the course of the second year, the remaining shares will be subject to a staggered release in equal quarterly increments.The Privateer ownership is controlled by equal 16.7 million shares by CEO Brendan Kennedy, Christian Groh and Michael Blue. The remaining 24.9 million shares are held by other Privateer shareholders.Such a complicated lock-up release covering over three years from the IPO suggests that one of the large investors wants to exit their position. The move causes the overhang on the stock to linger.Doesn’t Add ValueThe stock initially popped on the news, but this final agreement was only an extension of an agreement from back in June. Tilray ended down over 6% following the news.Ultimately, one has to see limited risk that Privateer shareholders that include CEO Brendan Kennedy would attempt to sell stock with the market value down to $3 billion. The cannabis company supposedly has big global plans so any move to dump shares here at the all-time lows would crater the stock.What the market needs is for all of these Privateer shareholders to actually resist from selling shares. Anybody buying shares now has to face a lockup overhang of 37.5 million shares next September. The following lockup during year two won’t matter as long as insiders aren’t dumping Tilray shares after the first share release.TakeawayThe key investor takeaway is that Tilray shareholders don’t need lockup extension deals that only push a big risk factor out a year or two. What they need is insiders buying shares after the stock has been beaten down or these insiders refusing to sell shares when freely permissible to dump shares.The bigger issue remains the $3 billion market cap and the 2020 sales target below $350 million. Maybe this valuation discrepancy is why the company is so concerned that insiders will start unloading shares without a lock-up extension for another year.Unsurprisingly, investor sentiment is negative, with individual portfolios in the TipRanks database showing a net pullback from TLRY.Disclosure: No position.

  • 5 ETFs Surge With Wall Street on Trade Talk Hopes

    5 ETFs Surge With Wall Street on Trade Talk Hopes

    We have highlighted five ETFs that gained most with the Wall Street rebound on Sep 5.

  • Why Cronos Group Stock Stands Out in a Sea of Cannabis Sameness

    Why Cronos Group Stock Stands Out in a Sea of Cannabis Sameness

    Cronos Group (NASDAQ:CRON) in late July announced the purchase of four subsidiaries of Redwood Holding Group. Like other recent acquisitions, the Redwood buy demonstrates how Cronos is taking a distinctly different path to growth than its major competitors. This difference, though, is not reflected in CRON stock at the moment.Source: Shutterstock In its last earnings period, Cronos Group easily beat analysts' expectations for revenue, posting $10.24 million (vs. expectation of $7.36 million). This was after a first quarter in which it posted a 120% YoY revenue increase.Despite these positive revenue numbers, CRON stock is down 50% since February. Some of this is an overreaction to the behavior of CannTrust Holdings (NYSE:CTST). In July, CannTrust was found guilty of growing marijuana in unlicensed rooms. The fallout affected the entire industry, which was already falling from its 2018 highs.InvestorPlace - Stock Market News, Stock Advice & Trading TipsStill, prior to July, CRON stock was down 11.7% while the ETFMG Alternative Harvest ETF (NYSEArca:MJ), lost 4.66%. Cronos Group stock is the second-largest holding in the 38-stock cannabis exchange-traded fund.Questions abound about the companies short- and long-term profitability. Their PS ratio of 191 doesn't help matters.At a quick glance, Cronos may look similar to many established cannabis companies. But as I mentioned above, CRON is taking a different path to growth. My InvestorPlace colleague Will Healy points out that Cronos is under the tutelage of their major investor and tobacco giant, Altria (NYSE:MO). And that path gives me two reasons to be optimistic about their future growth. An Asset-Light Approach to GrowthMany of the major cannabis companies are making acquisitions to help their cultivation efforts. Cronos is adopting a supply chain that focuses on a network of co-manufacturing joint ventures and partners. Redwood is the latest example. This was the company's first effort to enter the U.S. marijuana market. The acquisition is consistent with CRON's attempts to position itself to fit the growing demand for CBD-based beauty products. * 7 Best Tech Stocks to Buy Right Now Another example of Cronos Group's innovative approach took place in 2018. At that time, the company entered into a partnership with Gingko Bioworks. This is a bioengineering company that produces cannabinoids through biosynthesis. This partnership is helping CRON reduce the cost of cannabis production and positions them to produce minor cannabinoids such as tetrahydrocannbivarin (THCV) on a large scale. THCV has a number of health benefits, such as its ability to suppress appetite, that are not present in other forms of cannabinoids (i.e., THC or CBD). CRON is also aggressively carving out a niche in the Canadian derivatives market. This includes products like vaping pens, edibles, and topicals. CRON has agreement in place with third-party suppliers who will use Cronos' proprietary formulations in their products. Although other companies have a larger addressable market at the moment, these agreements will give Cronos Group a seat at the table. Cronos is Doing Right by its ShareholdersMost cannabis companies are financing their acquisitions with a secondary stock offering. This nifty accounting trick is common with real estate investment trusts (REITs). However, since a REIT is obligated to pay out a dividend, shareholder value is not diluted.But the major cannabis companies are not issuing dividends. This means that with every secondary offering they are diluting the value of their shares. Investors are catching on and it is showing up in the stock price for these companies.Here again, Cronos is doing things differently. They are paying for most of the Redwood acquisition in cash. Specifically, the cash they received from Altria, that made a major investment in Cronos Group in 2018. * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off According to reports, the company will pay $225 million of the $300 million in cash. The rest will be paid by issuing common shares (valued at $14.74). Even after the purchase, CRON will still be sitting on nearly $1.5 billion in cash. Putting that cash to work is what shareholders expect. Plus, paying in cash means that Cronos is effectively managing its debt load. Cronos' long-term debt is about $15 million which is pocket change compared to the $700 million that is owed by Canopy Growth (NYSE:CGC).This is a compelling story that many investors aren't hearing about yet. And it's why Cronos stock may be one of the best deals going, not only in the cannabis sector but in the broader market as well. What's Next for CRON Stock?I foresee investors will look to re-enter the cannabis sector as the derivatives market opens in Canada in December. When they do, I believe CRON stock will stand out. One of the major reasons for my conviction is that the company is showing its value to investors. Put simply, when Cronos sees its market cap rise, it will be due to repeatable revenue and share price appreciation, not because of an accounting trick.As of this writing, Chris Markoch did not hold a position in any of the aforementioned stocks. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth The post Why Cronos Group Stock Stands Out in a Sea of Cannabis Sameness appeared first on InvestorPlace.

  • Benzinga

    An Extraordinary International Misunderstanding: The UN's International Narcotics Control Board's Cannabis Quotas Are Not What The Media Portrays

    On Aug. 20, the United Nations International Narcotics Control Board (“INCB”) announced that Colombia would be awarded a quota of 1.2 tons of cannabis oil for internal medicinal and scientific use. This substantially reduced number compares to the 2018 quota of 47 tons, which caused euphoria and champagne corks to fly from bottles throughout the LATAM Andes, all the way to Canadian stock exchanges. Colombian and international media (not surprisingly) announced that this new limited quota represented a “fatal blow” to its cannabis industry.

  • Benzinga

    Cannabis Has Already Contributed More Than $100M To The State Of Nevada This Year

    Cannabis dispensaries, cultivators, laboratories and producers have paid more than $109 million in excise taxes and fees over the course of fiscal year 2019, breaking the $100 million mark for the first time. While the state has not yet disclosed how much of that went to education this year, changes to the law under the leadership of Gov. Steve Sisolak mandate that 100% of taxes go to education in future years. For the next two years, the state is projecting more than $100 million per year in tax collections.

  • Strong Fundamentals Make Cronos Stock a Value Play

    Strong Fundamentals Make Cronos Stock a Value Play

    Over the summer, the marijuana stock sector has been hard hit. One of the broader exchange-traded funds for cannabis stocks, Alternative Harvest ETF (NYSEARCA:MJ), is hovering close to its 52-week low of $24.01 after a long slow slide from $38 earlier this March. Source: Shutterstock InvestorPlace - Stock Market News, Stock Advice & Trading TipsMJ is the most widely followed and oldest ETF to track the global cannabis industry. The year-to-date return on MJ of -2% compared to the S&P 500 gain of 17% shows that pot stocks are definitely lagging. Yet, when the summer doldrums pass and investors return to the market, they will likely be seeking value and bottom fishing a few cheap buys. Although it has fallen considerably, closing Tuesday at $11.30 from its 52-week high of $25.10, Cronos Group (NASDAQ:CRON) stock might be just the hidden downtrodden stock that starts to rebound fastest. Here are three key reasons why CRON stock could be an excellent value play when the sector eventually bounces back. Cronos' Strong Top-Line Revenue GrowthCronos may not be the largest pot stock in terms of market cap or production in comparison with Canopy Growth (NYSE:CGC) or Aurora (NYSE:ACB). However, CRON stock delivers outstanding rock-solid sales growth -- and will likely get stronger. * More Instant Income With Cisco Systems According to the earnings release of CRON stock earlier in August, revenue was $10.2 million CAD in Q2 2019, representing a 202% increase from $3.4 million CAD on year-over-year basis. This massive growth was due to the launch of the adult-use market in Canada. Net revenue increased 58% quarter-over-quarter from $6.5 million CAD in the first quarter of 2019, primarily driven by increased sales in CBD oil, a product line also gaining rapid ground in the U.S. market. Global Tobacco Giant Altria Holds a 45% Stake in CRON StockGiven CRON's global distribution ambition, the partnership with Altria (NYSE:MO) should help drive growth by opening a wide variety of new distribution channels far beyond Canada and the U.S. For example, CRON has entered into an exclusive 5-year supply agreement with the German-based Pohl-Boskamp, a global pharmaceutical manufacturer that distributes to over 10,000 German pharmacies. On top of another distribution agreement with Delfarma, which sells to some 5,000 Polish pharmacies and 200 hospitals, Cronos is already generating revenues in eight European markets as well as Israel and Australia. In short, CRON stock will not be standing still waiting for legislative development in Washington, nor the cumbersome licensing process in Canada, to meet or beat its long-term revenue targets. U.S. Federal Legalization Gains SteamRecently, the U.S. Food and Drug Administration (FDA) issued a notice that it is reopening the public comment period to discuss dropping cannabis from the list of the most restricted illegal controlled substances. Even if the FDA does drop cannabis from their restricted list, this will not, of course, immediately legalize marijuana at the federal level. However, it is another step in the long and winding journey towards national legalization. And that journey will likely pick up speed as the 2020 presidential election year approaches. Most Democratic candidates have come out unequivocally in favor of legalization. Yes, Cronos has given away all of the 2019 gains in just the last few months. Yes, there will be considerable debate among politicians and investors alike about how long it may take the U.S. Congress to legalize marijuana given that the Republican majority in the Senate may continue past 2020 into 2022 or beyond. However, Cronos stock has strong underlying fundamentals; deep pockets form their strategic partnership with Altria and an up-and-running global distribution infrastructure. When the volatile pot stock sector rebounds, CRON stock may bounce back towards its 52-week high. As of this writing, Theodore Kim did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth The post Strong Fundamentals Make Cronos Stock a Value Play appeared first on InvestorPlace.