Charlotte’s Web stock is making positive moves in the early trading session on Monday after Charlotte’s Web Holdings (TSX:CWEB) (OTCQX:CWBHF) launches a new line of CBD gummies.
Charlotte's Web CBD Gummies
Boulder, Colorado-based Charlotte’s Web Holdings is the biggest hemp/CBD extract products company in the industry, and in a new development, the company has formally unveiled its latest line of CBD products. The product in question is CBD Gummies, manufactured from the company’s signature hemp and containing elements that can help with a range of health-related issues. Charlotte's Web CBD gummies can help relieve stress, help with sleep, and rejuvenate individuals after a particularly intense workout.
Charlotte’s Web boasts of a wide range of hemp-based products and the CBD gummies are its latest addition to an impressive product line.
The product is available for purchase from the company’s website, and Charlotte's Web Holdings will also start sending it out its own network of retailers. At this point in time, the company has as many as 6,000 retailers in its network in the United States, meaning its products are able to reach a vast customer base quickly.
Charlotte’s Web stock is outperforming the broader cannabis sector. CWBHF stock is up 3% at $13.55 on the OTC market. On the Canadian side, CWEB is up 2.80% and now selling at $18.38.
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Kelsey Morrison, director of product development, stated, "Gummies are a very popular edible format as a result of convenience and measurable consumption. This new delivery format from Charlotte's Web provides an easy bite-sized way to ingest full-spectrum hemp-extract CBD."
The latest product rollout makes Charlotte’s Web the most dominant company in the hemp CBD segment. Some of the other products that are marketed by the company include hemp CBD based oils, creams, pet care products, and capsules.
Charlotte’s Web Earnings
In Q1 2019, Charlotte’s Web did not record much of a growth in sales, but that should not be a cause for worry since the lower sales growth was primarily due to lower production capacity during the quarter. The problem was a short-lived one, and in addition to that, the company has doubled its planting this year to consolidate its position in the industry further.
Charlotte’s Web stock has been witnessing selling activities since April and dropped almost 48% from its recent peak price of $25 on the OTC market.
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