Charlotte’s Web Stock Spikes on Kroger Announcement

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Image: @CharlottesWebCBD / Instagram

BOULDER, Colo. – CBD production pioneer Charlotte’s Web Holdings announced on Monday that its CBD extract products would be carried by grocery chain Kroger Co., in 1,350 of their store locations. This is Charlotte’s Web’s largest distribution deal to date.

“Since its founding, Charlotte’s Web has been on a mission to make CBD products available for as many people as possible,” said Deanie Elsner, chief executive officer of Charlotte’s Web in a press release. “This distribution reach through Kroger’s market leading network of grocery stores is an enormous contributor to our mission. We are very appreciative of Kroger and all of our channel partners for the continued progress in expanding access to hemp-based health and wellness products.”

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Charlotte’s Web said that Kroger’s joins a roster of four mainstream retailers, expanding sales of their CBD products to 22 states. Products include CBD-infused gummies, CBD extract oil, and capsules, as well as extracts and other products for pets.

The company’s stock price saw a double-digit spike yesterday, according to finance publication The Street.com, Charlotte’s Web (CWBHF) is listed OTC and had seen a 12 percent rise, ending yesterday at $16.97.

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