Why Charlotte's Web Stock Is Sinking Today
Shares of Charlotte's Web Holdings (OTC: CWBHF) were sinking 12.2% as of 10:52 a.m. ET on Thursday. The decline came after the cannabidiol (CBD) leader announced its 2021 fourth-quarter and full-year results before the market opened.
Charlotte's Web reported fourth-quarter revenue of $24.8 million, down 7.8% year over year. The consensus analysts' estimate was for revenue of $27.7 million. The company posted a net loss in the fourth quarter of $118.2 million, or $0.86 per share. This result reflected significant deterioration from the net loss of $14.3 million, or $0.10 per share, in the prior-year period. It also was much worse than the consensus estimate of a net loss of $0.05 per share.
Investors shouldn't focus too much on one disappointing quarter. However, there were some indications of problems for Charlotte's Web in its fourth-quarter results that could be worrisome.
Source Fool.com
