Why Charlotte's Web Stock Jumped Today
Shares of cannabidiol (CBD) products supplier Charlotte's Web (OTC: CWBHF) jumped 7% Thursday morning after the company announced its fourth-quarter and full-year 2020 results. The stock pared those gains, but remained up 4.3% as of 12:40 p.m. EDT.
The company said fourth-quarter revenue grew 18% over the year-ago period and 7% over 2020's third quarter. For the full year, revenue increased only slightly, but the company's e-commerce business grew 28%, contributing more than two-thirds of total revenue.
Source Fool.com