Is the Bottom in for Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF)?

Is the Bottom in for Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF)?

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Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) just announced that David Panter has joined the Company as Chief Operating Officer, effective March 30, 2020. According to the release, Mr. Panter brings over 20 years of broad global supply chain experience at leading cosmetic, agriculture, pharmaceutical, medical device and consumer packaged goods (CPG) companies, including Estée Lauder Company, Luxottica Retail, Campbell Soup Company, and Tyco Healthcare/Covidien.

“David’s proven track record in global supply chain optimization and operational excellence across multiple industries makes him a valuable and timely addition to our top-tier management team,” said Elsner. “We think is a natural fit for Charlotte’s Web as we map out our global strategy for international expansion.”

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 David Panter has joined the Company as Chief Operating Officer, effective March 30, 2020.

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. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -16%.

According to its release, “Mr. Panter, who will be overseeing the Company’s brand new 137,000 sq. ft. manufacturing and distribution facility which includes Production, Extraction, Quality Engineering, Environmental Health and Safety, Supply Planning, Process and Facility Engineering, Contract Manufacturing, Continuous Improvement, and Customer Fulfillment Operations, will report directly to Charlotte’s Web’s Chief Executive Officer Deanie Elsner.”

Now commanding a market cap of $271M, CWBHF has a significant war chest ($88.9M) of cash on the books, which is balanced by about $38.2M 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 $125.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 6.4%. We will update the story again soon as developments transpire. 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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