Today, we'll take a closer look at a hemp stock making major moves in the growing US hemp industry and its latest stock movement.
Cannabis stocks are soaring today on both US and Canadian exchanges. 2019 has kicked off to a great start for the industry. It remains unknown at this time if the passing of the 2018 Farm Bill a few weeks ago has anything to do with it, but it just might. Hemp is now legal to farm in the US and is not seen as an illegal substance to consume anymore.
Charlotte's Web Holdings, Inc. (CSE:CWEB)
Charlotte's Web Holdings produces and distributes hemp-based wellness products in the US. The company is based out of Boulder, Colorado. Charlotte's Web sells its products through its e-commerce website, along with wholesales and brick and mortar retailers in the United States.
Yesterday, the hemp stock announced it snagged a former Coca-Cola Co (NYSE:KO) executive. In 2018, many major beverage makers were looking into infusing CBD with everyday beverages. This new company signing may just indicate that Charlotte's Web is eyeing this venture as well.
Eugenio Mendez will join the hemp stock company on January 15th and will be placed as the Chief Growth Office—a newly formed role. Mr. Mendez has been in an advisory role for the company for two years while holding a VP of sales position at Coca-Cola. This is a large signing and strategic move going into 2019 for the hemp stock.
>> Will More Medical Marijuana States Appear on the US Map in 2019?
"We're very excited to have Eugenio formally join our Company. Over the past sixteen months, I've had the opportunity to work closely with Eugenio and have been deeply impressed with his global vision and experience within the consumer-packaged goods ('CPG') industry," said Hess Moallem, President and CEO of the hemp stock. "Eugenio's appointment illustrates the high caliber executive talent we are attracting to support the Company's next phase of growth."
Hemp Stock Movement
According to Yahoo Finance, CWEB is currently trading at $15.93 a share, up +$0.58 (+3.78%).
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