Investors are enjoying a relatively calm session today with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) trading broadly flat at 5,755 points.
The materials and energy sectors are posting the biggest gains today, while the information technology and utilities sectors have lagged behind.
A number of shares are experiencing a particularly difficult day, including:
MMJ Phytotech Ltd (ASX: MMJ)
After a massive rally yesterday, the MMJ Phytotech share price has plunged more than 18.6% today to 61 cents. Short term traders are well-and-truly in control of the medical marijuana sector at the moment after the government relaxed laws to allow the supply and importation of the drug. Other shares in the sector are also being sold-off today including MGC Pharmaceuticals Ltd (ASX: MXC), Creso Pharma Ltd (ASX: CPH) and Auscann Group Holdings Ltd (ASX: AC8).
SKY and Space Global Ltd (ASX: SAS)
The Sky and Space Global share price has crashed nearly 18% today, despite no news from the company. Like the medical marijuana sector, the direction of the shares is largely in the hands of day traders that are looking to profit from short term price movements. As highlighted here, the company's nano-satellite technology appears to be quite exciting, but investors may want to leave it on their watch list for now.
Baby Bunting Group Ltd (ASX: BBN)
The Baby Bunting share price has dropped more than 5% today, despite the absence of any news from the company. Shares of the baby retailer have now fallen around 20% after the company noted that same-store-sales growth was likely to moderate in the second-half of FY17. Nonetheless, Baby Bunting is still expanding at a rapid pace, and with the shares currently trading at 52-week lows, now could be a good time to take a closer look at the company.
Domino's Pizza Enterprises Ltd. (ASX: DMP)
The Domino's Pizza share price has fallen more than 3% today after analysts at Citi downgraded the shares to 'neutral' from 'buy'. Despite reporting another strong result last month, the market has continued to be wary of the shares following allegations that franchisees may be mistreating and underpaying employees. The shares have now dropped more than 32% from their 52-week highs, but still trade on a lofty price-to-earnings ratio of around 43.
