The Hydroponics Company Ltd (ASX: THC) share price is on course to finish the week deep in the red.
In afternoon trade the diversified cannabis company's shares are down 6% to 24.5 cents. This means that its shares have now tumbled a whopping 40% in just three months.
Why are its shares lower?
After a strong start to life as a listed company, profit taking after a stellar early gain appears to have weighed heavily on its shares.
Although the pot stock recently announced that its wholly-owned medicinal cannabis subsidiary Canndeo Limited is building a domestic medicinal cannabis production and supply capability, it still wasn't enough to stop the slide.
Hydroponics Company hit the boards at a listing price of 20 cents per share and rose as high as 43 cents at one stage.
