Charlotte's Web jumps on California expansion plans

Charlotte's Web Holdings

07/10/2021 16:56

** Shares in cannabidiol (CBD) products maker  CWEB.TO  rise
20.7% to C$2.68 and are on course for best day in one year and
five months
    ** CWEB says it is expanding its retail distribution in
California following passage of Assembly Bill 45 on Oct. 6
    ** The law formally permits retail sale of products
containing hemp-derived CBD, including dietary supplements,
over-the-counter and pet products - CWEB
    ** CBD is a non-psychoactive compound derived mainly from
the hemp variant of cannabis
    ** CWEB expects California retailers to expand or begin
receiving shipments
    ** CWEB is down 36% this year, versus an about 18% increase
in the S&P-TSE Small Cap index  .SPTSES 

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