This post first appeared on Micro Cap Daily

Charlotte’s Web Hldgs Inc. (OTCQX: CWBHF) has been going through a harsh decline in the past few months, but the good news is that the drop is likely to be cut short in the following days, and replaced by another surge. The price saw massive gains upon entering 2019, with the first great surge taking it from below $10 to $14 by mid-January. After briefly stopping at this resistance, the price continued going up, and it reached $18 by the end of January. In February, it saw a minor decline which took it down to $14, which now started acting as a strong support.

In early March, the price skyrocketed and reached the resistance level at $26 by early April. After that, however, it got rejected, and it kept dropping until now when it once again approaches the support at $14. However, this support level is strong, and it is likely that it will be able to stop the decline. After that, the price will likely remain near the support for a while, or it will surge right back up, making this the perfect time to invest.

About Charlotte’s Web Holdings

Charlotte’s Web is an industry leading firm when it comes to CBD-based wellness products. It was founded by the Stanley Brothers, and it quickly rose through the ranks, becoming one of the world’s leading brands in production and distribution of whole-plant hemp extract cannabidiol.

The company is vertically integrated, and its goa is to improve the lives of its customers by offering high-quality products and remaining efficient and consistent at all times. The firm has strict guidelines when it comes to overseeing the cultivation, production, and sale of its products, all for the purpose of improving lives through natural means.

It owns over 300 acres of family farms, it is FDA-registered, and 3rd-party verified. It should be noted that it does not sell recreational or medicinal marijuana, however. Finally, apart from being listed on OTCQX, its shares can also be found on the Canadian Securities Exchange, under the symbol “CWEB.”

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Charlotte’s Web’s recent progress

As mentioned, the company started seeing massive gains in late December and early January, right after the passing of the Farm Bill. The demand surged instantaneously, and the company was forced to increase its hemp harvest by ten times, just to keep up.

The company started gaining more and more attention as well, which led to the expansion of its team of executives. In 2019, the company also decided to expand its products, and include CBD-based pet food. While it made progress on this front, its stock price started dropping at a large rate after the company announced proposed public offering of common shares earlier in May.

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However, despite the drop, the company continued business as usual, and the demand continues to grow even now. In other words, this is one of the top-quality firms, loved by the consumers, and while its stock price currently sees issues, this is not likely to last forever. In fact, the price will turn around sooner or later, and when it does, it is very likely to climb back to the heights seen prior to the crash. Meanwhile, investors should use this opportunity, and purchase its stock while it is at a ‘discount,’ as massive gains are likely to be in store for anyone who does. We will be updating on Charlotte when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Charlotte.

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Disclosure: we hold no position in Charlotte either long or short and we have not been compensated for this article.

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This post first appeared on Micro Cap Daily

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