Why the Ecofibre (ASX:EOF) share price is crashing 16% lower today

The Ecofibre Ltd (ASX: EOF) share price has been a poor performer on Thursday.

At one stage today, the hemp company’s shares were down as much as 16% to $1.51.

The Ecofibre share price has since bounced back a touch but remains down 9% to $1.64 at the time of writing.

Why is the Ecofibre share price sinking?

Investors have been selling Ecofibre shares after the release of a very disappointing half year result.

For the six months ended 31 December, the company reported a 49% decline in revenue compared to the prior corresponding period to $14.7 million.

Management advised that this was driven by a significant reduction in nutraceutical segment revenues. This more than offset growth in its food and hemp black…