Most cannabis stocks today are making a rebound, after starting the week out in the red. However, not all cannabis stocks are trending upward today. Charlotte’s Web Holdings, Inc (CSE:CWEB) and Green Thumb Industries, Inc. (CSE:GTII) are among two small-cap cannabis stocks that have dropped today.
Let’s take a closer look at these cannabis stocks and their latest company movements.
Cannabis Stocks: Charlotte’s Web Holdings (CSE:CWEB)
Charlotte’s Web is based out of Boulder, Colorado, and develops and distributes hemp-based cannabidiol (CBD) products. The company sells its products online and through distributors.
The cannabis company hasn’t released any new updates in two weeks; at that time they announced they had just surpassed 3,000 locations.
CEO of Charlotte’s Web, 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.”
It might be that the company’s lack of recent developments is what is driving investors to sell their CWEB shares today. According to Yahoo Finance, the cannabis stock is trading at $11.05 a share, down -$0.35 (-3.07%).
Cannabis Stocks: Green Thumb Industries (CSE:GTII)
Green Thumb Industries is headquartered in Chicago, Illinois, and it manufactures and sells various cannabis products in the US. This morning, the US-based cannabis company announced that it will hold its Q3 earnings call on November 27th, 2018.
The conference call will be held at 5:00 PM ET and can be accessed by dialing 877-273-8145, with the conference ID: 4065179. According to Yahoo Finance, Green Thumb currently has 300 full-time employees.
At press time, GTII shares are currently trading at $13.71 a share, down -$0.94 (-6.42%). It seems most cannabis stocks are trading in the red on the CSE today.
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