Top MJ stocks to watch in July..... A rebounding CBD stock
Keith Speights (Charlotte's Web Holdings): Although Charlotte's Web Holdings stock is up over 30% this year, that's a far cry from the 117% jump notched earlier this year. But after a big slump, Charlotte's Web is on the rebound. I think there's a lot to watch with this hemp cannabidiol (CBD) leader.
For one thing, Charlotte's Web's revenue will almost certainly continue to skyrocket. The company planted 300 acres of hemp last year. It announced a few weeks ago that total will increase to 862 acres in 2019. Even better, Charlotte's Web shouldn't have to worry about customers for its hemp CBD products. In the first quarter, 2,300 new retail locations were added to its distribution network -- more stores than were added in all of 2018. This brings the total number of retail stores carrying Charlotte's Web products to more than 6,000.
The key factor behind Charlotte's Web explosive growth is the legalization of hemp in the U.S. in December 2018. There are still some wrinkles to iron out with this legalization, though. The U.S. Food and Drug Administration (FDA) conducted a public hearing in late May as part of a process to establish regulations for CBD products. My hunch is that when those regulations are finally put into place, they'll provide a framework for fueling even more growth for Charlotte's Web.
I'm also interested to see what new steps CEO Deanie Elsner might take over the next few months. She's a consumer packaged goods industry veteran with a strong track record.
Overall, there are plenty of reasons to like what's happening with Charlotte's Web. I think the stock's rebound is just getting started.
https://www.fool.com/investing/2019/07/10/3-top-marijuana-stocks-to-watch-in-july.aspx