The hemp-derived wellness products maker is securing its place atop the rapidly expanding CBD industry. What happened Shares of Charlotte’s Web Holdings (OTC:CWBHF) surged more than 20% on Friday, furthering the CBD stock’s ascent since the company announced a patent win on May 20. So what Charlotte’s Web is a leading producer and seller of hemp-derived…
Shares of Charlotte’s Web Holdings( OTC: CWBHF) rose more than 20%on Friday, advancing the CBD stock’s climb because the business revealed a patent win on May20
Charlotte’s Web is a leading producer and seller of hemp-derived cannabidiol (CBD) wellness products. Unlike cannabis, which can make individuals high, CBD is non-intoxicating. Instead, a growing variety of individuals are utilizing CBD for its viewed health benefits.
Charlotte’s Web Holdings is a maker of popular CBD items. Image source: Getty Images.
Charlotte’s Web stated on Wednesday that it earned a U.S. utility patent for a brand-new hemp variety, called CW1AS1, which was developed by its co-founder, Joel Stanley.” The patent takes Charlotte’s Web’s premier proprietary genetics to the next generation and constructs a strong wall of security around it and the products made from it,” the business said in a press release.
Investors cheered to the news, and their optimism surrounding Charlotte’s Web’s patent grant appears to have fueled its stock’s increase once again on Friday.
Cannabidiol products are one of the fastest-growing sectors of the cannabis market, with retail CBD sales projected to surpass $24 billion in the U.S. alone by 2025, according to the Brightfield Group. As a leader in this quickly expanding and possibly massive market– and now, with patents assisting to protect its popular items– Charlotte’s Web Holdings might continue to reward financiers in the years ahead.
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends Charlotte’s Web. The Motley Fool has a disclosure policy.”>