Is Charlotte’s Web Doomed After the Recent FDA Warning About CBD?
The cannabidiol (CBD) market is projected to grow at a fast pace. According to some estimates, sales of CBD-based products will reach $20 billion by 2024, up from just $1.8 billion in 2018. This is in part because the entire cannabis industry is on a dazzling upward trajectory but also because CBD is sometimes perceived as a "safe" alternative to marijuana, since it contains negligible amounts of tetrahydrocannabinol (THC), the psychoactive ingredient in weed that gets users high.
However, a new warning by the U.S. Food and Drug Administration (FDA) claimed that contrary to what many people think, using CBD-based products comes with serious health risks. Let's look at what exactly the FDA said and what it means for Charlotte's Web Holdings (OTC: CWBHF), one of the leading companies in the fast-growing U.S. CBD market.
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Source Fool.com
