THERE’S no highs, just more lows for medical cannabis company PhytoTech on the share market.
PHYTOTECH Medical’s share price has plunged further after its founder and chief executive Ross Smith resigned on Monday over an ugly online spat.
The company’s shares have plunged 16.67 per cent to 35 cents at 1200 AEDT after falling nearly 12 per cent on Monday. This comes just 12 days after PhytoTech made its Australia stock market debut. Mr Smith has reportedly threatened critics on stock market internet forum HotCopper. The discussion thread involved physical threats by Mr Smith, who said he’d tracked down the critic’s Perth address and would pay a visit flanked by his personal Israeli special forces bodyguards. The post has since been removed from HotCopper and his Facebook page. In Facebook posts also since removed, Mr Smith complained that he was a victim of a vendetta by critics spreading misinformation on HotCopper and hacking.