Shares of Charlotte's Web Holdings (OTC: CWBHF) dropped 10.9% on Tuesday. The hemp cannabidiol (CBD) leader didn't announce any negative news. Instead, it appears that Charlotte's Web simply felt the brunt of an overall market sell-off, perhaps intensified because of continued pressure on cannabis stocks in general.
There's also another factor to consider. Charlotte's Web archrival CV Sciences (OTC: CVSI) reported good news today with a deal with Harris Tweeter. CV Sciences' PlusCBD Oil products will be distributed in 150 Harris Tweeter locations across five states. CV Sciences stock jumped more than 15% on the news.
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