Why Charlotte's Web Stock Slipped Again Today
Shares of Charlotte's Web Holdings (OTC: CWBHF) slipped 6.2% lower on Thursday after falling as much as 13.7% earlier in the day. This marked the second consecutive day of large declines after the cannabidiol (CBD) leader reported its second-quarter results on Wednesday morning. The continued sell-off appears to be due, in large part, to investors' worries that Charlotte's Web's growth could be limited until the U.S. Food and Drug Administration (FDA) finalizes its regulations for CBD.
Charlotte's Web's products are now carried in more than 8,000 retail locations. However, many of those locations, including CVS Health and Kroger, only sell the company's topical CBD products. These major retailers don't want to risk running afoul of the FDA, which has expressed its displeasure about CBD food-supplement products that make misleading health claims.
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Source Fool.com
