Charlotte's Web falls as biggest division falters

Charlotte's Web Holdings

24/03/2022 14:30

** Shares in cannabidiol products maker  CWEB.TO  fall 15.2%
to C$1.34
    ** CWEB says revenue from its DTC division, its biggest,
fell 12.1% in the fourth quarter, hurt by lower-than-expected
online sales during the December holiday season  urn:newsml:reuters.com:*:nCNWHZl9fa
    ** Net loss and comprehensive loss widened to $137.7 million
from $30.7 million a year earlier as CWEB incurred goodwill and
other impairment charges of $98 million during the quarter
    ** CWEB shares lost more than two-thirds of their market
value last year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@thomsonreuters.com;))