Introduction
Charlotte's Web (CWBHF) shares have sold off sharply over the past week after running up to ~$12 due to two events: a statement by the FDA warning the public of the dangers of CBD consumption and the announcement of a $49.9 million equity issuance by CWBHF.
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Although we certainly don't view these events as good for the company, we believe that their long-term impact on the company's operational performance will be minimal and are confident that management is taking the right steps to grow and position itself as the leading CBD company on