Why Charlotte's Web Holdings Popped Then Flopped Today
A jump-and-slide trading day is not unusual in the ever-volatile world of cannabis stocks. So it was for hemp products specialist Charlotte's Web Holdings (OTC: CWBHF) on Friday. A hopeful reaction to the company's intriguing news about a research project ultimately couldn't overcome a general pull-back in pot sector stocks, and the shares ended up closing 2.3% lower on the day.
That morning, Charlotte's Web announced that its CW Labs science division, in collaboration with Colorado State University, has completed one of three research studies on hemp.
In Charlotte's words, the project is aimed at "researching the complex chemical profile of full spectrum hemp extracts made from the company's U.S. patented hemp cultivars."
Source Fool.com
