Why Charlotte's Web Stock Is Sinking Today
Shares of Charlotte's Web Holdings (OTC: CWBHF) had sunk 7.7% lower as of 11:14 a.m. EDT on Wednesday after dropping as much as 15.4% earlier in the day. The cannabidiol (CBD) products maker reported second-quarter results before the market opened.
Charlotte's Web's revenue jumped 45% year over year and 15% quarter over quarter to $25 million. However, this fell short of the consensus analysts' revenue estimate of $26.3 million. The company also posted earnings per share (EPS) of $0.02, well below the average analysts' EPS estimate of $0.04.
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Source Fool.com
