Charlotte’s Web stock tumbles early after earnings, revenue miss

BOULDER — Charlotte’s Web Holdings Inc.’s (TSX: CWEB) (OTCQX: CWBHF) stock price was down nearly 9% in early trading just before noon on Tuesday after the company posted revenues and earnings that failed to meet Wall Street expectations. 

The CBD producer posted $23.4 million in sales for the first quarter of 2021, which was up 9.1% year over year but below Zachs Consensus Estimate of $27 million.

Net losses were $13.9 million on the quarter, or  $0.10 per share, up from a loss of $11.5 million for the same period in 2020. Wall Street analysts expected the company to lose $0.05 per…