Shares of U.S. CBD maker
Charlotte's Web Holdings (
TSX.CWEB) fell by more than 5% on the TSX Monday after the company
reported second-quarter results that showed a steep decline in revenue.
The Company said it made US$21.6 million in its second quarter of 2020, down from USD$25 million during the same period last year. Meanwhile, the company recorded an adjusted-EBITDA-loss of USD$5.7 million in its Q2, which it attributed to higher costs needed for future growth, as well as lower sales.
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