Charlotte’s Web increased 150% three weeks after IPO

When the IPO for Charlotte’s Web Holdings (CSE:CWEB) was announced at $7 last month, it was snapped up in the blink of eye.

Within two weeks, Charlotte spun right up to her highest peak to date, briefly touching $18.50 before settling down to close the week at $17.36.

The Colorado-based producer of high-quality, proprietary strains of hemp extracts was created to indirectly acquire and hold all of the capital stock in Charlotte’s Web Inc.

The company’s famous predecessor Stanley Brothers developed the world-famous Charlotte’s Web hemp strain.

The CBD-rich extract is credited with being the first publicly known cannabis product to be successfully used in a rare form of childhood epilepsy.

Charlotte’s current product categories include tinctures (liquid product), capsules and topical products.

GW Pharmaceuticals recently made history by getting the first-ever FDA approval for a cannabis-derived drug.  Epidiolex is expected to hit the marketplace before year end.

Charlotte’s Web is expected to invest IPO proceeds primarily in:

  • expansion of production capacity and cultivation infrastructure
  • research and product development
  • international expansion and working capital

 

 

 

 

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