The Motley Fool

Why Botanix, Elixinol Global, Pro Medicus, & Tinybeans shares tumbled lower

In afternoon trade the S&P/ASX 200 index is on course to give back yesterday’s gains. At the time of writing the benchmark index is down 0.25% to 6,655.5 points.

Four shares that have fallen more than most today are listed below. Here’s why they have tumbled lower:

The Botanix Pharmaceuticals Ltd (ASX: BOT) share price has crashed 46% lower to 13 cents. Investors have been heading to the exits in their droves after the cannabis-focused medical dermatology company released topline data from its Phase 2 BTX 1503 study. That study was evaluating its safety and efficacy in patients with moderate to severe acne. Unfortunately, the topline data revealed that the primary endpoint of reducing inflammatory lesions did not achieve statistical significance.

The Elixinol Global Ltd (ASX: EXL) share price is down 10% to $1.90. The cannabis company’s shares have come under pressure today following the release of an update on its Japanese operations. According to the release, Elixinol Global has established that non-compliant hemp-derived cannabidiol (CBD) products were being sold by Elixinol Japan. This non-compliance relates to the strict requirements in Japan on sourcing CBD from only hemp stalk and seed.

The Pro Medicus Limited (ASX: PME) share price has fallen 6% to $28.25. The healthcare technology company’s shares have come under pressure today despite there being no news out of it. However, with its shares up significantly this year and trading on sky-high earnings multiples, I suspect that some investors have been taking a little profit off the table today.

The Tinybeans Group Ltd (ASX: TNY) share price has sunk 14.5% lower to $2.06. This morning the family-focused social media platform released its first quarter update. Although Tinybeans delivered strong revenue growth compared to the prior corresponding period, it fell quarter on quarter. At the end of the quarter, the company had Monthly Active Users of 1.28 million. This was up 50,000 on the previous quarter.

Top 3 Dividend Shares To Buy For 2020

When Edward Vesely -- our resident dividend expert -- has a stock tip, it can pay to listen. With huge winners like Dicker Data (up 147%) and Collins Food (up 105%) under his belt, Edward is building an enviable following amongst investors that are planning for retirement.

In a brand new report, Edward has just revealed what he believes are the 3 best dividend stocks for income-hungry investors to buy now. All 3 stocks are paying growing fully franked dividends giving you the opportunity to combine capital appreciation with attractive dividend yields.

Best of all, Edward’s “Top 3 Dividend Shares To Buy For 2020” report is totally free to all Motley Fool readers.

Click here now to access this free report.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Pro Medicus Ltd. The Motley Fool Australia has recommended Pro Medicus Ltd. 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 Scott Phillips.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!