Unfortunately for its shareholders, in afternoon trade the Lynas Corporation Ltd (ASX: LYC) share price is up there with the worst performers on the local market.
At the time of writing the rare earths producer's shares are down 11% to 14.2 cents.
Why have its shares fallen?
With no news out of the company, today's decline appears to be a case of profit taking from day traders.
I don't think that this will come as a great surprise to shareholders. After all, prior to today Lynas' shares had gained over 50% in just the five previous trading sessions.
Even after today's decline its shares are up over 90% since the start of the year thanks to a much improved business performance following a recovery in the prices of rare earths.
This makes it one of the best performers in the resources sector this year.
