Charlotte’s Web Holdings

Charlotte’s Web Holdings
Charlotte’s Web Holdings

Boulder, Colorado-based Charlotte’s Web Holdings Inc. (CWEB.CN) distributes hemp-based cannabidiol or CBD wellness products.

Its products include CBD hemp oils, capsules, topicals, and pet products that feature CBD hemp oil extracts.

Charlotte's Web Holdings sells its products online as well as through distributors, and brick and mortar retailers. Formerly known as Stanley Brothers Holdings Inc., the company changed its name to Charlotte's Web Holdings in July 2018.

Charlotte’s Web grows its proprietary Industrial Hemp on farms leased in eastern Colorado and also sources Industrial Hemp through contract farming operations in Kentucky and Oregon. In October, the company said it has surpassed 3,000 retail locations across the U.S.

Revenue for the second quarter surged 89 percent to $17.2 million from $9.1 million last year. E-commerce revenue grew by 59 percent year-over-year, while wholesale, distributor and retail or WDR revenue grew by 205 percent.

The company will announce its third-quarter results on November 27, 2018.

Shares of Charlotte’s Web commenced trading on the Canadian Securities Exchange on August 30, 2018 under the symbol “CWEB” at price of C$7.00 per share. The shares have so far touched a low of C$9.05 and a high of C$18.50.

The company has a market capitalization of C$1.51 billion. In the U.S., the company’s shares trade on the OTCQX under the symbol “CWBHF”.

Shares of Charlotte’s Web closed Friday’s (November 16) trading at C$16.75, up 8.6 percent.