CWEB stock has been an investor favorite since the update to the US Farm Bill was passed.
Signed on December 11th, the update made industrial hemp legal across the US. This, in effect, opened the doors to a major industry that had previously been tapping on a very small window.
As a hemp-derived CBD producer, Charlotte’s Web Holdings (CSE:CWEB) (OTCQX:CWBHF) is now exactly where a hemp company wants to be. Proving it, the company released its 2018 harvested hemp results earlier this week.
Charlotte’s Web Stock
The report showed one very important thing: output. Charlotte’s Web Holdings experienced more than ten times growth in harvested hemp compared to its 2017 growing season. Such impressive harvest yields put the company ahead of the pack. With the capability to supply what is, already, a surging demand, Hess Moallem, President and CEO of Charlotte’s Web, drove this point home:
“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. As the category and brand leader, our goal is to increase our market share and with this bountiful harvest we are able to satisfy our customer demands for 2019 and beyond.”
Simply put, the results are a reminder to investors that Charlotte’s Web and its stock is indeed a leader in whole-plant extract products with naturally occurring cannabidiol.
Output and Demand
CWEB stock stands out from its peers. Its output is one of the major reasons. The company expects to produce between 250,000 and 350,000 pounds of hemp this year alone.
As the industry embraces the updated Farm Bill, more distribution outlets will pop up as chain retailers start to become the largest sellers of CBD. Therefore, as the mass adoption of CBD grows, it will lead to increased demand from the market leader.
CWEB stock is most likely going to surge.
The Bottom Line
With CBD going mainstream, Charlotte’s Web’s profit potential is about to increase dramatically. For this reason, CWEB stock is one to watch in 2019. It is currently selling for $12.93 USD and up 0.6% according to Yahoo Finance.
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