The Creso Pharma Ltd share price is down 12% in a week

The Creso Pharma Ltd (ASX:CPH) share price has been amongst the worst performers in the last week, falling over 12%. Here's what you need to know…

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The last five trading sessions have not been kind to the Creso Pharma Ltd (ASX:CPH) share price.

During this time the medicinal cannabis company's shares have plunged over 12%.

What happened?

This decline is likely to be attributable to a significant number of shares being released from escrow in recent days.

On July 14 there were 712,500 ordinary shares released from escrow, followed by a further 135,000 ordinary shares on July 17.

With its shares more than doubling in value in the last six months, there is a reasonable chance that some shareholders will have taken this opportunity to lock in some gains.

A portion of these gains came in June when Creso Pharma signed a letter of intent to become the first company to export high quality medicinal cannabis from Switzerland into Asia-Pacific and Latin America.

The company believes the agreement gives it a first-mover advantage in exporting best-in-class pharmaceutical-grade medicinal cannabis products into these new markets.

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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