Why Charlotte’s web stock fell nearly 5% on Monday
Cannabidiol (CBD) specialist Charlotte Web Holdings (OTC: CWBHF) was not a special Monday stock. It closed nearly 5% lower on the day, despite the announcement of a new product for frontline healthcare workers.
The new product is a tincture of CBD oil (a tincture is the result of infusing something into a liquid). It comes in sizes of 10 or 30 millimeters, each containing 25 milligrams of CBD. Suggested retail prices are $ 24.99 and $ 59.99 respectively.
CBD is said to have medicinal and restorative properties. Unlike tetrahydrocannabinol (THC) from marijuana, it doesn’t get a high user.
Image source: Getty Images.
“As a pioneer in the CBD industry of full-spectrum CBD wellness products, the company is expanding its product offering for consumers looking for a THC-free option,” Charlotte’s Web wrote in the press release announcing the new range.
“For example, the hundreds of thousands of everyday heroes – healthcare workers, firefighters, police officers, public servants and many more – who want the benefits of CBD extracts from hemp without THC,” he added.
Charlotte’s Web cited a survey of 1,119 respondents conducted by Mental Health America indicating that 86% of Health workers face anxiety, while 76% are exhausted and exhausted from their work.
There is no question that frontline workers need help coping with the current stress of their work. Still, CBD isn’t a mainstream enough product to capture much of this demographic, in my opinion. Going through Charlotte’s Web slide on Monday, investors might feel the same.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.