Why Charlotte’s Web Holdings Are Up 11% Today

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What happened

Charlotte Web Fund (OTC: CWBHF), a fairly intermediate stock in an industry out of favor with investors, stood out on Wednesday. The specialist in cannabidiol (CBD) products saw its shares soar almost 11% during the day, thanks to positive news from the laboratory.

So what

On Tuesday afternoon, Charlotte’s Web announced that a third-party clinical study in which it participated demonstrated that its products “achieved a distinct and palpable improvement in their quality of life and well-being.”

Image source: Getty Images.

Most study participants who regularly ingest Charlotte’s Original Web Formula showed improvements in other areas of their health, including sleep quality and stress management. These results were significantly better than the control group in the trial, which did not experience noticeable improvements.

“Independent third-party research and reporting on the effectiveness of hemp-based wellness products helps build long-term consumer confidence and is an ongoing commitment of Charlotte’s Web,” said Tim Orr, President of the CW Labs research unit.

The trial was a randomized, controlled study evaluating the effectiveness of CBD products such as Charlotte’s Web Original Formula. It was conducted by health technology company Radicle Science.

Now what

Faced with a host of challenges, the marijuana industry (in which CBD producers are usually included) is not very popular at the moment. So it’s quite the happy shock when encouraging news like this comes more or less out of the blue.

The results of the study were quite clear and very encouraging. And most likely, they will encourage new customers to purchase the types of CBD products that Charlotte’s Web – a segment-leading company – sells.

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Eric Volkman has no position in the stocks mentioned. The Motley Fool recommends Charlotte’s Web and Charlotte’s Web Holdings. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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