Charlotte’s Web Holdings Inc. (OTCQX:CWBHF) rose 21.59 to $2.1400 at yesterday’s close. As compared to its median weekly volume of 343.62, CWBHF’s stock volume was 720.54K. Following the California expansion, CWBHF stock price rose.
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How will CWBHF expand in California?
Charlotte’s Web is a Colorado-based Certified B Corporation. A family of brands built around whole-plant hemp extract makes CWBHF the market leader in innovative products. CBD Medic, CBD Clinic, Harmony Hemp, and Charlotte’s Web are some of the CWBHF brands. CWBHF products begin with proprietary hemp genetics grown on American farms and are transformed into whole-plant hemp extracts which contain naturally occurring phytocannabinoids, including THC, CBD, CBC, CBG, terpenes, flavonoids, and other beneficial hemp compounds.
CWBHF’s CW Labs R&D science division is located at the State University of New York’s (SUNY) 64-campus system, University at Buffalo in Buffalo, New York. CBD topical creams and lotions for dogs are among CWBHF’s product categories, along with full spectrum hemp extract oil tinctures (liquid products), gummies (for stress, insomnia, and inflammation recovery), and capsules. More than 14,000 retail stores and 8,000 health care practitioners sell CWBHF products, and the company’s website distributes products online.
After Assembly Bill 45 passed in California on October 6, Charlotte’s Web is planning expanding its retail distribution in the state. CBD products such as dietary supplements, topicals, over-the-counter medications, and pet products can now be sold legally at retail stores.
The passage of Assembly Bill 45 is a significant victory for Californians who wish to receive a wide range of safe, high-quality hemp nutritional supplements, for retailers who wish to sell them, and for farmers and manufacturers who make and ship them. In addition to Assembly member Aguiar-Curry, CWBHF appreciates the broad oversight provided by her staff on hemp CBD products in the state.
As a result of the 2018 Farm Bill, hemp farming and manufacturing are now legal, but there are no federal preemptions or national regulations regarding hemp supply chains. As a result, hemp growers, manufacturers, and retailers are faced with a patchwork of state-level requirements, which hinder the industry from reaching its full potential.
CWBHF applauds state-level progress, but nevertheless believes Congress and the Administration still needs to enact clear, federal legislation regulating hemp CBD. CWBHF is committed to providing its voice and resources to measures that will ensure a safe, credible, and sustainable industry, such as House of Representatives Bill 841, which should be heard by the Energy & Commerce Committee by the end of the year.
Is CWBHF leveraged in any way?
Charlotte’s Web (CWBHF) expects that California retailers will use AB 45 to access CWBHF’s products. There are currently more than 1,000 Charlotte’s Web (CWBHF) retail partners throughout California, which have access to clear regulatory guidance now, which will ensure they can confidently offer Charlotte’s Web (CWBHF) products to customers.
