Charlotte's Web CBD is in a prime position to return huge dividends to investors. Selling for $19.25 at present on the OTC, these shares have grown over 60% already in 2019.
Now, Charlotte's Web Holdings (CSE:CWEB) (OTCQX:CWBHF) has a massive market cap of $1.73 billion USD and is arguably the leading hemp producer in the US.
Charlotte's Web CBD: Market Leader
The cannabis sector has easily been the fastest growing industry in recent times. Once Canada legalized recreational marijuana, the doors sprung open elsewhere around the world, as sentiments towards this drug shifted.
Now, the industry sits on the potential of 40 countries that have all legalized cannabis in some form. In Charlotte's Web Holdings' case, its turning point came when the US passed the updated Farm Bill in late 2018 legalizing industrial hemp and hemp-derived products.
With Charlotte's Web CBD on sale in roughly 3,700 stores across the US, the company has, as stated, climbed more than 60% in 2019 and nearly doubled its market cap.
For that reason among others, Charlotte's Web stock is considered one of the most profitable stocks in the cannabis sector. It has a relatively low evaluation and buckets of potential.
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Charlotte's Web CBD: New CEO
Two days ago, the company unveiled Adrienne Elsner as its new CEO. The addition is significant. Elsner was the former president of the US Snacks division at Kellogg Company. She brings to the role over 25 years of "diverse consumer packaged goods (“CPG”) experience across both business and marketing leadership roles in domestic and international markets."
Her unit at Kellogg's was a $3 billion arm of the business. While management at Charlotte's Web has proved themselves savvy, the addition of a seasoned and talented marketer should excite investors.
When home-grown passion (Charlotte's Web is a family-started and run business) meets market expertise, the potential for a wonderful marriage is high.
The Takeaway
A company doesn't near two billion in market cap without doing something right. And Charlotte's Web Holdings has not only grown but capitalized on the shifting climate towards cannabis.
Charlotte's Web stock is currently down 3.56% on the OTC, correcting somewhat from the highs hit after Monday's CEO announcement.
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