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Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) Offers Up New Data

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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 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 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 longer term.

“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 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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