In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to make it four consecutive days of declines. At the time of writing the benchmark index is down a disappointing 0.15% to 6,006 points.
Four shares falling more than most today are listed below. Here's why they are ending the week in the red:
The Auscann Group Holdings Ltd (ASX: AC8) share price has tumbled almost 7% to $1.59 despite there being no news out of the pot stock. Almost all pot stocks have sunk lower today as day traders take profit after some strong gains. While I am a fan of AusCann, I think there is an awful lot of future growth built into its share price now.
The Livetiles Ltd (ASX: LVT) share price is down 3.5% to 58 cents. On Thursday the fast-growing tech company's shares rallied significantly higher after reporting strong growth in its annualised subscription revenue. I suspect that today's decline could be down to profit-taking from traders.
The Orocobre Limited (ASX: ORE) share price is down almost 10% to $6.46. The majority of the lithium miners are being sold-off today amid concerns that there could be an oversupply of the metal in the next few years after lithium-giant Sociedad Química y Minera was granted approval to ramp up its production. Orocobre has just announced plans to ramp up its own production.
The Saracen Mineral Holdings Limited (ASX: SAR) share price is off 2.5% to $1.52. The gold miners have taken a tumble today after bond yields widened in the United States. In addition to this, Saracen was labelled as a share to sell this week by analysts at Citi on valuation grounds. The broker has a $1.32 price target on the gold miner's shares.
