Charlotte's Web Is About to Face Its Toughest Competition Yet

One of the biggest advantages Charlotte's Web (OTC: CWBHF) has enjoyed is its dominant position in hemp-based cannabidiol (CBD) products in the U.S. While many cannabis companies are focused on the sale of recreational marijuana, Charlotte's Web has carved out a strong market share in hemp.

However, its legacy leadership in the market could change with one big-name competitor from Canada looking to make a big splash in the U.S. CBD market: Canopy Growth (NYSE: CGC).

On Dec. 12, Canopy Growth launched its First & Free brand, which currently sells softgels and oil drops on its website. Hemp-derived creams are also coming soon. The website doesn't indicate any physical presence, but it provides shipping to 31 states and offers free two-day shipping on orders of more than $75. 

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Source Fool.com