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Monday, September 21, 2020

Is it Coming Together Again for Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF)?

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Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) just announced the establishment of Charlotte’s Web Labs (CW Labs) an internal division for research & development substantially expanding on the Company’s efforts around the science of hemp-derived phytocannabinoids, terpenes, and flavonoid compounds.

According to the release, the Company is placing its existing R&D team under the leadership of recently hired Senior Vice President of Innovation, Tim Orr, who will lead CW Labs’ expanded team of a dozen external and internal research specialists based in Buffalo, New York and Boulder, Colorado. Mr. Orr is a global healthcare executive with more than three decades of commercial and product development experience in the diagnostics, life sciences, and medical device industries. Mr. Orr has held top executive and management positions at Johnson & Johnson and Abbott Laboratories.

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 the establishment of Charlotte’s Web Labs (CW Labs) an internal division for research & development substantially expanding on the Company’s efforts around the science of hemp derived phytocannabinoids, terpenes and flavonoid compounds. 

Even in light of this news, CWBHF has had a rough past week of trading action, with shares sinking something like -22% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way. Furthermore, the stock has benefitted from a jump in recent trading volume to the tune of 4% above its longer-run average levels.

“I am proud to lead CW Labs in support of Charlotte’s Web’s innovation and scientific discovery,” stated Mr. Orr. “With science driving new formulation development and product efficacy, CW Labs acts as an engine of innovation to create new high-quality products and innovative delivery systems to customers who have come to trust and rely on Charlotte’s Web.”

Now commanding a market cap of $256M, 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%. You can bet we will update this one again as new information comes into view. 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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