The dismal CBD market is no better reflected than the dismal Q2 results of Charlotte's Web Holdings (CWBHF). Despite an acquisition completed in the quarter, the company still can't generate revenues beyond late 2018 levels. My investment thesis remains bullish on the stock as the COVID-19 shutdown environment and lack of FDA regulations will eventually resolve and provide upside for CWB.
Image Source: CWB website
Dismal Q2
For Q2, CWB reported revenues of only $21.6 million. The company managed to miss revenue estimates by a wide $3.3 million along with falling $3.4