Don't Sleep on the CWB Holdings IPO
It was about three years ago when I recommended folks buy shares of Canopy Growth Corporation (TSX: WEED) for $1.60 a share.
Yesterday, the stock hit $55.92 a share.
That's a gain of 3,394%.
I'm not going to lie. That's the biggest gain I've ever enjoyed in my more than two decades in the world of finance. And it's only one of about a dozen other cannabis stocks I recommended many years ago - when they were still super cheap.
Of course, a lot has changed since then, and it seems that every couple of weeks there's a new cannabis company going public.
Some will do well, and some won't. That's just the nature of the game.
But there's a new cannabis company going public soon that I believe will be a home run.
The company is called CWB Holdings, and it's one of the most important cannabis companies in the world. Here's why ...
Don't Sleep on CWB Holdings (CSE: CWEB)
If you're know the cannabis industry, you know the Stanley Brothers.
The Stanley brothers became major rock stars in the cannabis community after developing a strain of medical cannabis that helped a little girl named Charlotte Figi effectively battle a horrible form of epilepsy known as Dravet's syndrome.
Here's the story ...
It was in 2011, when the Stanley brothers first started working with Charlotte Figi and her parents. They were a very small operation back then. But because they have been so successful at providing quality medical cannabis for those who need it, this small operation has blossomed into a company that did $40 million in revenue last year.
This is the ultimate story of doing well by doing good.
Now about a month ago we learned that the Stanley brothers were going public under Charlotte's Web Holdings, Inc. (CWB Holdings). Make no mistake: I was very excited about this announcement. Then this morning, we learned that the company has boosted its IPO offering by 52 percent to $77 million.
Shares are now priced at C$7 a share, which is the top end of its previously announced range. Based on this share price, CWB Holdings will now have a valuation of about $500 million.
CWB Holdings will trade on the CSE under the symbol "CWEB." Do NOT sleep on this one, as I believe it will be one of the most successful cannabis IPOs of the year.