Charlotte’s Web Stock Down Despite Collaboration With Iconic Artist

Charlotte's Web Stock

Charlotte's Web stock is in the red today despite news that Charlotte's Web Holdings (TSX:CWEB) (OTCQX:CWBHF) is teaming up with iconic artist Shepard Fairey to promote its new "Trust The Earth" campaign.

Multi-City Art Installation Campaign

Shepard Fairey, co-founder and creative director of Studio Number One (SNO), is perhaps best known to the general public for designing the Barack Obama "Hope" poster, which came to represent his 2008 run to the White House. Fairey has teamed up with Charlotte's Web Holdings to create a multi-city art installation in promotion of the Colorado company's "Trust The Earth" campaign, which aims to empower American adults to educate themselves on access to natural health. Charlotte's Web stock is down slightly following the news.

“Charlotte’s Web was a great organization to align with, as they are making advancements doing good by generating real health benefits with their products. My goal as an artist is to create art with a message, and I’m proud of my team for using this opportunity to do the same for Charlotte’s Web, a brand that can take a stand,” said Fairey.

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Charlotte's Web is named after 12-year old Charlotte Figi, who suffered from seizures before being treated with the company's CBD oil by Dr. Sanjay Gupta on CNN in 2013. She is now 99.9% seizure-free, according to a follow up released just last week. The company's CBD products will now be more widely available in Canada following the passage of legalization 2.0 on October 17, which should provide a boost for Charlotte's Web stock when they arrive in stores by mid-December.

Analysts View on Charlotte's Web Stock

Despite today's downward trading, Charlotte's Web Holdings has actually gained about 24% in the year-to-date, with the company beating many of its peers and ETFs throughout 2019. The company did report lower than expected revenue in its Q2 results back in August, but many analysts remain bullish. Of the eight analysts who initiate coverage on Charlotte's Web, two analysts recommend a “strong-buy” rating, while six recommend a “buy” rating. None of the analysts recommend a “hold” or “sell” rating.

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