Why Charlotte's Web Stock Slumped as Much as 5% Today
The stock of Charlotte's Web Holdings (OTC: CWBHF) had a forgettable Friday. At one point, shares of the cannabidiol (CBD) products specialist dipped more than 5% into the red, following the announcement of a new capital-raising effort. They rallied before long, but still closed 0.2% lower on the day.
Charlotte's Web divulged that it is launching an at-the-market (ATM) equity issue, essentially a rolling share floatation. Under this process, the company will sell common stock worth up to 60 million Canadian dollars ($49.7 million) on the market.
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Source Fool.com
