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Why Charlotte's Web Flew High on Friday

TheMotleyFool

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Charlotte's Web Holdings (OTC: CWBHF) stock ended the week on a positive note. The company, which has been making a recent push into the U.K. market, had some good news to deliver about its operations in that country. As a result, its shares closed the day nearly 4% higher.

Friday morning, Charlotte's Web announced that its full-spectrum cannabidiol (CBD) products have been granted Novel Food status by the U.K. Food Standards Agency (FSA). This allows the company to sell those goods throughout the country, at a distinct competitive advantage -- it didn't hesitate to mention that it's one of only a handful of full-spectrum CBD producers to receive the status out of over 800 applications.

Image source: Getty Images.

Source Fool.com

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