Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) just announced that it has completed the audit of its 2019 hemp harvest, the sole source of the Company’s full spectrum extracts which are high in naturally occurring cannabidiol.
“We are very pleased with
the results of the 2019 harvest, achieving yield and potency levels that
surpassed our expectations. This reflects the tremendous expertise we have
gained in hemp cultivation over the last six years,” said Deanie Elsner,
CEO of Charlotte’s Web. “More than half of our harvest was certified
organic in 2019 with the remaining acres in transition. We are well on our way to becoming one of the
largest providers of certified organic hemp CBD extract in the country.”
Charlotte’s Web Holdings Inc
(OTCMKTS:CWBHF) bills itself as a company that develops and distributes
hemp-based cannabidiol (CBD) wellness products. Its products include CBD hemp
oils, capsules, topicals, and pet products that feature CBD hemp oil extracts.
Charlotte’s Web Holdings, Inc.
sells its products online as well as through distributors, and brick and mortar
The company was formerly known
as Stanley Brothers Holdings Inc. and changed its name to Charlotte’s Web
Holdings, Inc. in July 2018. The company was incorporated in 2018 and is
headquartered in Boulder, Colorado.
According to company
materials, “Charlotte’s Web Holdings, Inc. is the market leader in the
production and distribution of innovative hemp-based cannabidiol (“CBD”)
wellness products. Founded by the Stanley Brothers, the Company’s premium
quality products start with proprietary hemp genetics that are responsibly
manufactured into whole plant hemp extracts naturally containing a full
spectrum of phytocannabinoids, including CBD, terpenes, flavonoids and other
beneficial hemp compounds. Industrial hemp products are non-intoxicating.
Charlotte’s Web current product categories include tinctures (liquid products),
capsules, topical, as well as pet products. Charlotte’s Web hemp-based whole
plant extracts are sold through select distributors, brick and mortar
retailers, and online through the Company’s website.”
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As noted above, CWBHF just announced that it has completed the audit of its 2019 hemp harvest, the sole source of the Company’s full spectrum extracts which are high in naturally occurring cannabidiol.
While this is a clear factor,
it has been incorporated into a trading tape characterized by a pretty dominant
offer, which hasn’t been the type of action CWBHF shareholders really want to
see. In total, over the past five days, shares of the stock have dropped by
roughly -14% on above average trading volume. All in all, not a particularly
friendly tape, but one that may ultimately present some new opportunities. What’s
more, the name has seen interest climb, with an increase in recent trading
volume of 12% above the average volume levels in play in this stock over the
“Our genetics resulted in
the highest biomass yield per acre in our history, with many acres producing
well above 3,000 pounds of biomass (with fiber removed)” said Jared
Stanley, Company Co-Founder and Chief Cultivation Officer. “Cultivating, harvesting and drying at
scale for full spectrum extract products is an area where we’ve learned to
excel, and our world-class horticulture division continues to cultivate new varieties
of hemp that are cannabinoid, flavonoid and terpene rich.”
Earning a current market cap
value of $328M, CWBHF has a significant war
chest ($46.3M) of cash on the books, which must be weighed relative to about
$31.2M in total current liabilities. One should also note that debt has been
growing over recent quarters. CWBHF is pulling in trailing 12-month revenues of
$123.7M. In addition, the company is seeing major top-line growth, with y/y
quarterly revenues growing at 42.7%. We will update the story again soon as
further details emerge. Sign-up for
continuing coverage on shares of $CWBHF stock, as well as other hot stock
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Disclosure: we hold no position in $CWBHF, either long or
short, and we have not been compensated for this article.
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