Other than the legal and recreational marijuana market, the cannabidiol (CBD) industry is also booming because of the newfound love for cannabis. Experts are confident that the CBD industry will grow by 700 percent this 2020, making it worth $2.1 billion. Then more growth is expected by 2027 as experts claim that it could reach $57 billion by then. With such a good future ahead of it, it should be no surprise that the number of CBD stocks continue to grow.
One of the most recent entries into the stock market is Charlotte’s Web. The Colorado-based CBD leader accomplished its Initial Public Offering (IPO) in Canada on Aug. 30, and is now trading under the CWED ticker symbol on the Canadian Securities Exchange (CSE). The stock is worth buying now as it is only worth $5.40 per share. As Charlotte’s Web is standing on the strong market for cannabis in Canada, the share could rise to new heights quickly.
Formerly known as Stanly Brothers Holdings Inc., Charlotte’s Web is now one of the leading manufacturers and distributors of CBD products in Canada. The company specializes in a line of products that are derived from full spectrum CBD, terpenes, flavonoids and other hemp compounds. The company’s diverse product lineup isn’t what makes it such a good brand to follow though.
What sets apart Charlotte’s Web from other cannabis companies
The Charlotte in the name of the company was taken from Charlotte Figi, a little girl with the same name who suffered from Dravet Syndrome, a rare form of epilepsy. As her epileptic episodes grew more frequent and worse, her family went on to try out many treatments and medications, which all fell short. When all hope was lost, the family discovered cannabis and its potential to treat seizures.
At this time, the Stanley brothers behind Charlotte’s Web decided to create a unique strain of medical marijuana using industrial hemp and low tetrahydrocannabinol (THC) cannabis. The end result was a cannabis strain that has high CBD and low THC content, making it ideal for children.
Charlotte was the initial user of the new strain, and she began showing better results immediately. Seeing how effective it was, the cannabis strain was named Charlotte’s Web and the company decided later on that it would be a perfect name for them.
Charlotte’s Web is a company that runs not only with great product offerings but also with passion. It is what makes them such a prominent player in the market.
CBD stocks are becoming a viable option for diversifying an investor’s portfolios because of the compound’s growing popularity. What makes the industry more lucrative is that it is still relatively young and the room for growth is still massive. Investors have their work cut out for them and all they need to do is look for companies who are set to meet the demand for CBD.
(Featured image by nodomain.cc via Wikimedia Commons. CC BY 2.0)
