Charlotte's Web Holdings (OTC: CWBHF), a Colorado-based cannabinoid wellness company, saw its shares gain a healthy 13.8% Friday. This double-digit uptick marks the first time the stock has rallied in nearly a full month. In fact, Charlotte's Web's stock was down by a whopping 30% for the month, prior to this sudden, end-of-the month rally. What's more, this American cannabis stock was trading at all-time lows to boot.
Charlotte's Web's main attraction as a cannabis investing vehicle is its hemp-based cannabidiol (CBD) product line, which consists of oils, gummies, and capsules. Although CBD-infused products were forecast to grow into a multibillion-dollar market over the next 10 years, the Food and Drug Administration (FDA) threw cold water on this notion in late 2019.
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