Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) carries edible pet supplements that have been approved, according to a recent release, to carry seals of approval from two of the most trusted organizations in their respective industries, the National Animal Supplement Council (NASC), a non-profit group dedicated to protecting and enhancing the health of companion animals throughout the country and the U.S. Hemp Authority, an organization created for the purpose of helping create standardization and quality across the hemp industry.
According to the release, “As the only full-spectrum hemp derived CBD brand to comply with both the NASC Quality Seal program and the U.S. Hemp Authority™ Certification Program, Charlotte’s Web is further validating to pet owners why it is known as The World’s Most Trusted Hemp Extract™. The Company has been expanding its presence in the fast-growing pet CBD market, with its 12 SKU pet line experiencing 57% year-over-year revenue growth in Q3 2019.”
Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) bills itself as a company that develops and distributes hemp-based cannabidiol (CBD) wellness products. Its products include CBD hemp oils, capsules, topicals, and pet products that feature CBD hemp oil extracts.
Charlotte’s Web Holdings, Inc. sells its products online as well as through distributors, and brick and mortar retailers.
The company was formerly known as Stanley Brothers Holdings Inc. and changed its name to Charlotte’s Web Holdings, Inc. in July 2018. The company was incorporated in 2018 and is headquartered in Boulder, Colorado.
According to company materials, “Charlotte’s Web Holdings, Inc. is the market leader in the production and distribution of innovative hemp-based cannabidiol (“CBD”) wellness products. Founded by the Stanley Brothers, the Company’s premium quality products start with proprietary hemp genetics that are responsibly manufactured into whole plant hemp extracts naturally containing a full spectrum of phytocannabinoids, including CBD, terpenes, flavonoids and other beneficial hemp compounds. Industrial hemp products are non-intoxicating. Charlotte’s Web current product categories include tinctures (liquid products), capsules, topical, as well as pet products. Charlotte’s Web hemp-based whole plant extracts are sold through select distributors, brick and mortar retailers, and online through the Company’s website.”
As noted above, CWBHF just announced that its edible pet supplements have been approved to carry seals of approval from two of the most trusted organizations in their respective industries, the National Animal Supplement Council (NASC), a non-profit group dedicated to protecting and enhancing the health of companion animals throughout the country and the U.S. Hemp Authority, an organization created for the purpose of helping create standardization and quality across the hemp industry.
The stock has suffered a bit of late, with shares of CWBHF taking a hit in recent action, down about -4% over the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -25%. Furthermore, the name has seen a jump in recent trading volume to the tune of 25% over the long run average.
“For canine owners, we understand that dogs aren’t just pets, they’re family. They deserve products you can trust,” said Deanie Elsner, CEO of Charlotte’s Web. “Charlotte’s Web is committed to producing the safest and highest quality pet products. We are very proud that our edible pet products have earned a seal of approval from both the NASC and the U.S. Hemp Authority.”
At this time, carrying a capital value in the market of $201M, CWBHF has a significant war chest ($46.3M) of cash on the books, which stands against about $31.2M in total current liabilities. One should also note that debt has been growing over recent quarters. CWBHF is pulling in trailing 12-month revenues of $123.7M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 42.7%. We will update the story again as soon as developments transpire.