Why Charlotte's Web Shares Are Trading Higher Today

Charlotte's Web Holdings, Inc. CWEB CWBHF announced a national distribution partnership with Gopuff, a go-to delivery platform, on Tuesday.

Charlotte's Web offerings first launched on Gopuff this summer in select markets, including Arizona, Illinois, California and New York and will continue to expand nationwide throughout 2022 and 2023.

The company's CBD gummy line, CBD oil tinctures in various concentrations, topical CBD creams and balms, as well as CBD products for pets, are among the first hemp products available on the Gopuff platform.

"In the United States, consumer access to hemp wellness is still in its infancy," Jacques Tortoroli, Charlotte's Web's CEO, said. "Our mission is to make CBD broadly available, accessible – and convenient. With Gopuff, we are making access more convenient than ever with instant delivery for our consumers. So whether it's a sudden need for Charlotte's Web sleep, stress or recovery gummies, soothing CBD oils or topicals, or even calming pet chews for an overly excited canine, Gopuff can help us answer the call - in minutes."

With more than 500 locations, Gopuff delivers over 4,000 products - cleaning and home products, medicine, pet care, office supplies, beauty and wellness items, baby products, food and drinks and more - to customers in about 30 minutes.

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Price Action

Charlotte's Web's shares traded 12.5% higher at $0.45 per share at the time of writing on Tuesday morning.

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