The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back some of its early gains, but is still up just under 0.1% to 5,910 points in early afternoon trade.
Four shares which haven't been able to follow the market higher today are listed below. Here's why they have started the week in the red:
The Hydroponics Company Ltd (ASX: THC) share price has plunged 13% to 20 cents despite there being no news out of the diversified cannabis company. This latest decline means that its shares have lost over half of their value in the last six months. I would suggest investors resist buying the dip.
The MGC Pharmaceuticals Ltd (ASX: MXC) share price has tumbled 13% to 6.6 cents. Today's decline is likely to be a case of profit taking after the medical and cosmetic cannabis company's shares more than doubled in value on Friday following the signing of a major new supply contract.
The WPP Aunz Ltd (ASX: WPP) share price has fallen over 10% to 96.5 cents after the advertising company released a trading update. According to the release, WPP expects to report sales of $865 million and net profit after tax of $81 million for the year ending December 31 2017. This was a downgrade on its previous guidance and is the result of client cutbacks and tepid economic conditions.
The Western Areas Ltd (ASX: WSA) share price is down 4% to $2.91 after Cannacord Genuity downgraded the nickel producer to a sell rating with a $2.40 price target. Despite today's decline, the Western Areas share price has gained over 17% in the last three months.
