Cannabis stocks are booming this week on both US and Canadian exchanges. Many of the large-cap stocks have been seeing decent growth this week, which might be pulling up the rest of the market. Today we’ll take a closer look at two cannabis stocks dominating the CSE today: Charlotte’s Web Holdings Inc. (CSE:CWEB) and Crop Infrastructure Corp. (CSE:CROP).
Charlotte’s Web Holdings
Charlotte’s Web is based out of Boulder, Colorado, and it produces and distributes CBD wellness products. Currently, the cannabis stock sells its products online, as well as through distributors and brick and mortar retailers.
The last news the company released was over two weeks ago, where it announced it had surpassed 3,000 locations.
Charlotte’s Web CEO, Hess Moallem, said:
“While we are thrilled to beat our retail expectations for the year, we know this is just the beginning of our continued expansion both domestically and worldwide. We are deeply committed to the millions of people who benefit from Charlotte’s Web and we will continue breaking new ground to ensure our products are made available in as many retail locations as possible.”
Despite its lack of recent news, the cannabis stock is among the top trading stocks on the CSE today. According to Yahoo Finance, CWEB is currently trading at $14.49 a share, up +$1.94 (+15.46%).
Crop Infrastructure Corp.
Crop Infrastructure is based out of Vancouver, BC, and it invests in, constructs, owns, and leases greenhouse facilities to provide real estate solutions for licensed cannabis producers in Washington and California.
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This morning, Crop announced that its company has engaged as an ICO-GMP rated extraction facility developer to soon build a one ton per day extraction facility in Nevada. The cannabis stock is currently in the process of harvesting its 240 acres that were planted earlier this year. The crops harvested will be made into isolate.
Crop CEO, Michael Yorke, stated:
“The synergies and relationship between CROP and our off-take partner continue to evolve. We look forward to continuing to develop this new partnership into new opportunities and other territories. We believe this is an effective and creative way of financing and developing our growth in a non-dilutive arrangement.”
According to Yahoo Finance, the cannabis stock is currently trading at $0.38 a share, up +$0.04 (+13.43%).
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