Shares of this hemp extract market leader took off yesterday following comments earlier in the week from Vice President Kamala Harris that the U.S. needs to “legalize marijuana.”

Charlotte's Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF)is the market leader in full-spectrum hemp extract wellness products. The firm released financial results today in a press release, along with a company-wide turnaround initiative named True North.

Through True North, the firm seeks to enhance the customer journey and drive sustainable growth through an operational and data-driven emphasis. Charlotte’s Web also seeks to evolve its wellness offerings beyond CBD to include a broader range of botanical wellness solutions, including minor cannabinoids. 

Shares of Charlotte’s Web benefitted from Vice President Harris's comments, which said that the U.S. Drug Enforcement Administration is “working as quickly as possible” on potentially rescheduling marijuana during a marijuana reform roundtable last week. U.S. shares of Charlotte’s Web closed yesterday up over 8 percent at $0.195. 

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