Why Charlotte's Web Stock Dropped Tuesday
Shares of Denver-based hemp-derived cannabidiol (CBD) company Charlotte's Web Holdings (OTC: CWBHF) have had an active morning Tuesday. After briefly dropping 10%, the company's over-the-counter shares bounced back, yet remained down about 3.3% as of 11:35 a.m. EDT.
There is no news out of the company today, nor is there any big sector news. In fact, many other cannabis names were trading more normally today, without a big swing seen with Charlotte's Web shares. But today's move is really just continuing a monthlong downward trend in the stock. Shares are down 22.5% in the last 30 days, giving back all the gains made after the company reported its quarterly financial update on May 11.
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Source Fool.com
