CBD stocks are set to make a huge splash in 2019, due to the passing of the 2018 Farm Bill. This bill ended a 50-year ban on industrial hemp. Now, farmers are allowed to farm hemp, which gives the industry a boost and helps struggling farmers in the US.
Hot CBD Stocks Moving Forward
Today, we'll take a look at a few CBD stocks that are on the rise moving into February. Looking to add a few to your portfolio and get your hands on hemp? You might want to add these CBD stocks to your watch list.
Charlotte's Web Holdings (CSE:CWEB) (OTCQX:CWBHF)
Charlotte's Web Holdings produces and sells hemp-based cannabidiol wellness products in the US. The company is based out of Boulder, Colorado. The company was incorporated back in 2018 and has made substantial ground ever since.
In the last month, the CBD stock has risen over 45% on the OTC and almost 40% on the CSE. Today, the stock continues to make solid gains, despite a small correction to its share prices yesterday. Charlotte's Web hasn't released any substantial news in over two weeks.
On January 15th, Charlotte's Web announced its 2018 harvested hemp results. The company reported 10 times the growth, compared to its 2017 growing season. This has likely caused the spike in the CBD stock this month, especially since hemp is nationally legal now.
"Charlotte's Web is one of only a few hemp CBD producers capable of supplying large volumes of high-quality hemp extract from its own supply chain that can meet significantly increasing market demand," said Hess Moallem, President and CEO of Charlotte's Web.
Charlotte's Web Holdings has positioned itself to be a major hemp/CBD player in the US. According to Yahoo Finance, CWEB is among the top CBD stocks to see share growth on the market today. At the time of writing, CWEB is trading at $19.77 a share, up +$0.79 (+4.16%). On the OTC, CWBHF is trading at $14.90 a share, up +$0.75 (+5.13%).
CV Sciences (OTCQB:CVSI)
CV Sciences is a life science company based out of Las Vegas, Nevada. The company develops prescription drugs using synthetic cannabidiol as the active pharmaceutical ingredient. The company also sells plant-based CBD products. CV Sciences was founded back in 2010 and currently has a market cap of over $535 million.
This month, the CBD stock has risen over 30% in its share price. CVSI stock got an initial boost from the Farm Bill announcement, but this month, the company has made some strong management changes. In addition to this, CV Sciences was named one of the first US Hemp Authority Certified Manufacturers, which is huge news for the company.
"Consumer interest and demand for industrial hemp products is growing rapidly and we believe consumers are entitled to full transparency with respect to product quality, safety, and consistency. By completing the US Hemp Authority’s™ rigorous certification process, consumers can continue to trust in CV Sciences’ commitment to the highest operating and production standards,” stated Michael J. Mona, III, Co-founder, President, and Chief Operating Officer for CV Sciences.
According to Yahoo Finance, the CBD stock is trading at $5.58 a share, up +$0.23 (+4.30%).
Featured Image: DepositPhotos © rbspace
