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The Game is On for Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF)

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The wide-swinging action continues in shares of Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF). That mode of behavior in such a liquid and volatile name is a siren song to traders who continue to pile into the action on a daily basis. In fact, the stock has emerged as the most widely and broadly traded name on the OTC not counting large-cap foreign ADRs or trusts. The story surrounding the stock was last updated when the company announced that Russell Hammer has joined the Company as Chief Financial Officer, effective tomorrow, August 15, 2019.

According to the release, “Mr. Hammer, who has most recently served as an advisor in private equity investments, brings more than 30 years of finance experience in the retail, tourism and technology sectors. With his experience leading multi-billion-dollar multinational companies, he is the latest top-tier executive to join Charlotte’s Web as the Company accelerates its growth and evolution into a global consumer packaged goods (“CPG”) brand. Mr. Hammer replaces Rich Mohr, who as CFO has overseen the Company’s successful transition to a publicly-traded company and market leader in hemp CBD products.”

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 recently announced that Russell Hammer has joined the Company as Chief Financial Officer, effective tomorrow, August 15, 2019.

Recent action has seen 4% added to share values of the name over the past week of action. What’s more, the stock has registered increased average transaction volume recently, with the past month seeing 43% beyond what we have been seeing over the larger time frame.

“Russ’s appointment aligns perfectly to support the Company’s evolution over the past few years from an early stage organization to a leading public company, into its next phase transitioning to a global CPG company. His breadth of international finance experience across a range of industries, as well as expertise in building operational infrastructure, applying forward-looking analytics, M&A, and accessing capital markets will help us scale the business in a financially stable way,” said Deanie Elsner, CEO of Charlotte’s Web. “I would also like to recognize Rich’s valuable contributions setting up the company for this next phase of growth.”

Now commanding a market cap of $692M, CWBHF has a significant war chest ($67.2M) of cash on the books, which compares with about $18.3M in total current liabilities. CWBHF is pulling in trailing 12-month revenues of $113.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 50.6%. 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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