Hemp Stocks: Charlotte’s Web Holdings and Hemp Inc Go Up and Down

hemp stocks

Not long ago, the 2018 Farm Bill legalized industrial hemp, which looks and smells similar to cannabis but is not cannabis. Many assumed the legalization would shake up the market, and these assumptions were right. Some hemp stocks are doing well, while others have fallen.

Today, we're going to be looking at how Charlotte's Web Holdings and Hemp Inc are doing on the market.

Hemp Stocks: Charlotte's Web Holdings and Hemp Inc.

1. Charlotte's Web Holdings (CSE:CWEB)

According to Yahoo Finance, as of 1:55 PM, CWEB stock is trading at $13.61, putting it up 6.75%.

Charlotte's Web Holdings produces whole-plant hemp extract products, all of which contain natural CBD. The hemp stock is considered a leader in this market. Since the passing of the Farm Bill, Charlotte's Web has expressed optimism, even reporting material improvements in its business outlook. Things were looking good for the company before the legalization, however. In Q3 of this year, Charlotte's Web reported that sales increased 57% year-over-year.

The company is based in Colorado and had its IPO on August 30th of this year.

>> Auxly Cannabis: Seeing Gains, but will the Positives Last?

2. Hemp Inc (OTC:HEMP)

Based in Las Vegas, Hemp Inc produces hemp-based products. Despite having its stock jump on December 19th (after the company was featured in Forbes), HEMP stock found its way into the red zone today.

According to Yahoo Finance, as of 2:06 PM, HEMP is trading down 4.41%. There is no news that could be cited for the drop.

The Takeaway

As the legalization of industrial hemp is still relatively fresh—and it has come after decades of restriction—it will be important to keep a close eye on hemp stocks as we kick off the new year. There are, of course, more hemp stocks on the market but why do you think Hemp Inc and Charlotte's Web Holdings were trading so different today? Let us know in the comments below!

Featured Image: Depositphotos/SergeyNivens

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