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Thursday, June 30, 2022

The Struggle Continues for Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF)

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It shouldn’t go without notice that Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) just announced its “Trust the Earth” initiative, designed to democratize access to hemp-derived products for those seeking wellness and relief. 

According to the release, Studio Number One, a creative agency co-founded by artist Shepard Fairey, created the original artwork, first publicly exhibited by Charlotte’s Web as a mural in Brooklyn in October 2019.  Today, Studio Number One’s original art is exhibited from the ground up, literally, as field art on a mammoth scale of 76-acres in America’s heartland.

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 its “Trust the Earth” initiative, designed to democratize access to hemp-derived products for those seeking wellness and relief.

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 -5% on above average trading volume. All in all, not a particularly friendly tape, but one that may ultimately present some new opportunities. In addition, the name has benefitted from a jump in recent trading volume to the tune of 0% over the long run average.

“This art is the visual and naturally living embodiment of Charlotte’s Web’s mission to unleash the healing powers of botanicals,” said Deanie Elsner, CEO for Charlotte’s Web. “And, we hope this inspires many to join us in fighting for sound federal and state regulations.”

Currently trading at a market capitalization of $353M, CWBHF has a significant war chest ($75.5M) of cash on the books, which stands against about $42.2M 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 $125.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 0.1%. This is an exciting story, and we look forward to a follow-up chapter as events 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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