Shares of cannabidiol (CBD) products specialist Charlotte's Web Holdings (OTC: CWBHF) had an up-and-down Tuesday, inching up by 2.2% before closing down by 2.5%. Investors were reacting to a distribution and marketing deal announced by the company.
Charlotte's Web said that it has signed a multiyear exclusive contract with privately held fitness company Life Time to put its products on the latter company's shelves. The agreement covers over 140 of the Lifecares stores located within Life Time's fitness centers throughout the U.S. Charlotte's Web CBD products will also be available in its new partner's online store.
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Why Charlotte's Web Holdings Stock Rose Then Fell Today