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An Examination of Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF)

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Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) is one of the more interesting case studies in the CBD space right now. The company hit the trader spotlight just a few weeks ago despite being a long-time player in the consumer space for CBD. Shares have been a roller coaster ride, with several dramatic moves. The read on this is somewhat confused by the stormy waters through which we now sail in the aftermath of the Canadian pot legalization move, but the legitimacy of the on-the-ground operations will likely make this one interesting after the storm has passed.

For example, the company just announced that it has surpassed 3000 retail locations across the United States. At the end of 2017, Charlotte’s Web products were sold in approximately 2,000 locations. The Company disclosed today that it surpassed its 2018 year-end goal of 3,000 locations during the 3rd quarter.

Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) bills itself as a company that develops and distributes hemp-based cannabidiol (CBD) wellness products. Its products include CBD hemp oils, capsules, topicals, and pet products that feature CBD hemp oil extracts.

In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($14.2M against $9.7M). Charlotte’s Web Holdings, Inc. sells its products online as well as through distributors, and brick and mortar retailers.

The company was formerly known as Stanley Brothers Holdings Inc. and changed its name to Charlotte’s Web Holdings, Inc. in July 2018. The company was incorporated in 2018 and is headquartered in Boulder, Colorado.

Charlotte’s Web Holdings, Inc. is the market leader in the production and distribution of innovative hemp-based cannabidiol wellness products. Founded by the Stanley Brothers, the Company’s premium quality products start with proprietary hemp genetics that are responsibly manufactured into whole plant hemp extracts naturally containing a full spectrum of phytocannabinoids, including CBD, terpenes, flavonoids and other beneficial hemp compounds. Industrial hemp products are non-intoxicating.

Charlotte’s Web current product categories include tinctures (liquid products), capsules, topical, as well as pet products. Charlotte’s Web hemp-based whole plant extracts are sold through select distributors, brick and mortar retailers, and online through the Company’s website.

Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) generated sales of $22.2M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 34.2% on the top line.

 

Widespread

We started off by noting that CWBHF just hit the wires with word that it has surpassed 3000 retail locations across the United States. At the end of 2017, Charlotte’s Web products were sold in approximately 2,000 locations. The Company disclosed today that it surpassed its 2018 year-end goal of 3,000 locations during the 3rd quarter.

“Firstly, I would like to commend our incredible and committed staff who worked tirelessly to achieve this milestone,” stated Charlotte’s Web CEO Hess Moallem. “I would also like to thank our dedicated retail partners for their continued support of our mission and for valuing the trust that is closely associated with our brand name.”

The market for anything related to cannabis and CBD has been undergoing a corrective wave in recent days, which has confounded the charts in the space. That said, the view forward here may provide a bed of support that pushes CWBHF into a relative strength position as we move through the cycle.

Mr. Moallem added, “While we are thrilled to beat our retail expectations for the year, we know this is just the beginning of our continued expansion both domestically and worldwide. We are deeply committed to the millions of people who benefit from Charlotte’s Web and we will continue breaking new ground to ensure our products are made available in as many retail locations as possible.”

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