Why Charlotte's Web Stock Surged 24% Today

Shares of Charlotte's Web Holdings (OTC: CWBHF) surged more than 20% on Friday, furthering the CBD stock's ascent since the company announced a patent win on May 20.

Charlotte's Web is a leading producer and seller of hemp-derived cannabidiol (CBD) wellness products. Unlike marijuana, which can make people high, CBD is non-intoxicating. Instead, a growing number of people are using CBD for its perceived health benefits.

Charlotte's Web Holdings is a maker of popular CBD products. Image source: Getty Images.