Down 45%! Is the Kogan (ASX:KGN) share price sinking back to reality?

The Kogan.com Ltd (ASX: KGN) share price is not having a fantastic time of late. At the time of writing, Kogan shares have shed 3.4% to $13.79 a share. Not that there has been any major news out of the e-commerce company.

Well, apart from an ASX posting that informed the markets that Kogan’s new director, James Spencely, has an interest in his new company of approximately zero shares. Yep, zip and nada. That’s not exactly inspiring, but also probably not the likely reason why investors are selling out of Kogan today.

In fact, today’s move in the Kogan share price is actually a continuation of a trend that has been playing out for some time. Kogan lost a hefty 22% over the month of February alone. It’s also down almost 30%…