Why I'm Not Optimistic About the Future of Charlotte's Web
Charlotte's Web Holdings (OTC: CWBHF) is a hemp-products company that simply hasn't given investors much of a reason to invest in its business. Without strong sales growth or profits, its financials have been underwhelming. Plus, given that hemp, unlike marijuana, is legal federally in the U.S., the sector is full of competition from companies both inside and outside the U.S.
It's little wonder that the cannabis stock has fallen more than 20% in the past year, even as the Horizons Marijuana Life Sciences ETF has risen by 30%. Charlotte's Web recently released its second-quarter results, and they did little to show that the company is on a better path. Here's why I'm not bullish about the stock's future.
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Source Fool.com
