This post first appeared on Micro Cap Daily
Charlotte’s Web Hldgs Inc. (OTCQX: CWBHF) has seen a massive boost of its stock price in 2019, particularly in late March and early April of this year. The stock price dropped to major lows in late 2018, and in the second half of December, those lows reached only $9. However, it appears that this is where the price has found its new bottom, as it started surging from there, and by the end of January, the stock saw a value of nearly $18.
This level was a major resistance — one that caused a price correction after stopping the stock’s advance. However, while the decline dominated the entire month of February, it was stopped at the new support level at $14. Then, in mid-March, the price started surging anew, but this time, it was a much sharper growth. By the first week of April, its stock price reached $25, only being stopped by a resistance at $26. This level also caused a price correction — one that took it down to $18, which then started acting as a support. However, in the last few days, this level unexpectedly got broken, and the price is currently dropping further down. It is likely that it will stop at $14, and from there, it might surge once again.
What is there to know about Charlotte’s Web Holdings?
Charlotte’s Web Holdings is one of the leading brands in the production and distribution of CBD-based wellness products. It is a vertically integrated company that strives to make its customers’ lives better through natural means.
Over time, as the company grew and developed, its products got very well-known for its quality and efficiency. The firm has always been consistent, and it always made a point to carefully oversee every step of the way. From growing the seeds to delivering products on the shelves, Charlotte’s Web aims to deliver the best quality products in the industry.
The company grows its non-GMO hemp genetics on 300 acres of family farms, which are entirely FDA-registered, as are its production facilities. It should be noted that Charlotte’s Web does not produce or sell medicinal or recreational marijuana, however, but only the top-quality cannabidiol-based wellness products.
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Charlotte’s Web in 2019
Charlotte’s Web stock price reached its lowest point in mid-December, but things started to change once the US 2018 Farm Bill was approved. The company did not hide its support, and it celebrated what it called the win for America. This is where the company’s stock started surging rapidly, and the firm decided to increase its hemp harvest up to 10 times just to meet demand.
The company also brought some new names to its executive list, such as Eugenio Mendez, the former Coca-Cola executive, who became Charlotte’s Web’s new Chief Growth Officer. Then, there was also Steven Lermer, a pharma industry veteran, who became its new COO.
Charlotte’s Web started seeing massive growth in demand and value, and everything was going great for the firm, it even filed final base shelf prospectus in 2019. It then appointed Kellogg and Kraft’s former executive leader, Deanie Elsner, as its CEO, and it expanded to include canine-focused pet line.
However, the company’s price started dropping in early April, when it announced a proposed public offering of common shares. It appears that this single decision knocked the company’s stock price a lot, and yesterday, May 9th, the company also announced the pricing of a public offering of common shares.
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While the firm’s stock is currently quite low, and getting lower with each new update regarding the public offering, that is a temporary state of things, which is excellent for investors who are looking to purchase stocks with massive potential. The company’s current stock price is just above $14, but it proved that it can reach as high as $26, and likely even higher. This is a perfect opportunity to invest and use this massive decline while it lasts, as the price will likely surge up once again quite soon. 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