Charlotte's Web Falls on Q2 Misses
Investors weren't catching much of a buzz from Charlotte's Web (OTC: CWBHF) on Monday morning. The company -- which is considered a marijuana stock, although its products are made from hemp-derived cannabidiol (CBD) -- released disappointing results for the second quarter of fiscal 2020.
For the quarter, Charlotte's Web booked consolidated revenue of $21.6 million, which only slightly exceeded the Q1 tally of $21.5 million, and was down by 13% on a year-over-year basis. The Q2 net loss was $14.4 million, or $0.13 per diluted share. This was deeper than the $11.5 million shortfall of the previous quarter, and far down from the $2.2 million profit the company eked out in Q2 2019.
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Source Fool.com
