The last five trading sessions have not been kind to the Creso Pharma Ltd (ASX:CPH) share price.
During this time the medicinal cannabis company's shares have plunged over 12%.
What happened?
This decline is likely to be attributable to a significant number of shares being released from escrow in recent days.
On July 14 there were 712,500 ordinary shares released from escrow, followed by a further 135,000 ordinary shares on July 17.
With its shares more than doubling in value in the last six months, there is a reasonable chance that some shareholders will have taken this opportunity to lock in some gains.
A portion of these gains came in June when Creso Pharma signed a letter of intent to become the first company to export high quality medicinal cannabis from Switzerland into Asia-Pacific and Latin America.
The company believes the agreement gives it a first-mover advantage in exporting best-in-class pharmaceutical-grade medicinal cannabis products into these new markets.
