The legalization of marijuana in Canada and the United States has led to the development of many cannabis derivative products. One of those products is CBD and according to experts, it is the next big thing in the cannabis industry. In particular, Charlotte’s Web stock (CSE:CWEB)(OTCQX:CWBHF) is the undisputed leader at this point of time. In the past two weeks, the cannabis stock has rallied by as much as 29%. That being said, it is interesting to note the marijuana company currently commands a market cap of only $800 million. Considering the potential growth of the CBD industry, there is still a lot of room to grow.
Charlotte’s Web: CBD Leader
CBD is poised to become one of the biggest industries in the years to come. Because of this, Charlotte’s has an opportunity to grow exponentially. According to leading cannabis company, Aurora Cannabis, the CBD and hemp products industry could be worth $22 billion in 2022. In addition to that, some of the biggest companies are getting into CBD in a big way. Recently, the biggest marijuana company, Canopy Growth, has invested $100 to 150 million in CBD product manufacturing.
The bigger players in the industry are well aware of its potential. Charlotte’s Web Holdings has been ahead of the curve. CBD has the potential of being a genuine health and wellness product resulting in leading companies trying to join in. Charlotte’s Web has come up with a wide range of products that could be helpful to many customers. The pot stock could see a growth in their consumer base.
The company produces CBD infused, gels, capsules and concentrates. In addition, they also developed products for dogs. In 2018, Charlotte’s Web managed to grow its revenues by as much as 74%. It is a cannabis stock that could prove to be a major winner in the CBD space.