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Why Bullish Bets in Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) are Starting to Pay Off

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We have been profiling the recent bullish turn in shares of Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) in our recent coverage, documenting the hold at key moving averages last month and the continued sense that the company is a pure-play leader in the explosive CBD space. Now, that call/bias is starting to get some help from the company with their announcement of an extension of its research initiative with The Center for Discovery in New York State to further develop hemp genetics for optimal growing in the region.

According to the release, “The groundbreaking project has been helping to solidify Charlotte’s Web’s expansion within the Eastern Appalachian Region by determining which hemp varieties grow the best under the regional microclimates and local terrain. Now in its third year, the initiative has steered Charlotte’s Web’s breeding program in the production of superior varieties that will support the efforts of local farmers and position the Company for success in New York and surrounding states with similar growing conditions. The Company is also partnered with farmers in Kentucky to produce optimal hemp varieties for its CBD products, and it recently announced a separate organic hemp farming research initiative in the state of Pennsylvania with Rodale Institute and Natural Care.”

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 retailers.

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 an extension of its research initiative with The Center for Discovery in New York State to further develop hemp genetics for optimal growing in the region.

We’ve witnessed 42% piled on for shareholders of the listing during the trailing week. In addition, the company has seen interest climb, with an increase in recent trading volume of greater than 160% above its longer-run average levels.

“Consumers are becoming more and more savvy about the benefits of organic and sustainable agriculture for their own health and the health of the planet,” said Bear Reel, Senior Director of Cultivation R&D at Charlotte’s Web. “We are focused on helping people live better lives by making the highest-quality and consistent products, and it all starts with the genetics we put in the ground.”

Earning a current market cap value of $707M, CWBHF has a significant war chest ($92.3M) of cash on the books, which must be weighed relative to about $20.7M 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 $102.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 74.2%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $CWBHF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CWBHF, either long or short, and we have not been compensated for this article.

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