Unfortunately for its shareholders, the Creso Pharma Ltd (ASX: CPH) share price has not had a great finish to the week.
At the time of writing the medicinal cannabis company's shares are down almost 6% to 49.5 cents.
What happened?
With no news out of the pot stock since last month, today's decline is likely to be a case of profit taking from day traders.
After all, prior to today's decline, Creso Pharma's shares had rallied over 33% since the start of June.
The catalyst for that rally was news that it had signed a letter of intent to become the first company to export high quality medicinal cannabis from Switzerland into Asia-Pacific and Latin America.
Management believes this agreement gives Creso a first-mover advantage in exporting best-in-class pharmaceutical-grade medicinal cannabis products into these new markets to address a range of serious diseases.
