Charlotte's Web Holdings Inc (CWBHF)

[CornellEngineer]

Dad talked to Schwab this morning and they told him that the reason folks have to call in to trade Charlotte's Web is due to "volatility".

It's kinda BS because this stock actually has much less day-to-day variation than almost every other pot stock we've traded to date...it's one of the first things that struck me when I looked at its price chart. But the one thing I've noticed on the candlestick charts is that there were often days in the past when the wicks or shadows shot way the hell above the candlestick's main body. As a result the Average True Range (ATR) is quite high for CW even though the main candlestick bodies are very well-behaved compared to most MJ stocks.

Does anybody know what causes these anomalies to appear? As an example, on October 19th CW opened at $13.56, closed at $12.83, had an intraday low of $12.75 but had an intraday high of a whopping $20.76...which just so happens to still be listed as this stock's all-time high since it started trading back on September 12th.

https://www.marketwatch.com/investing/stock/cwbhf

I find it really hard to believe that many if any shares were actually traded at that level but I suppose it's possible. These super long wicks mostly appeared during the time that the pot sector was crashing from mid to late October and seems to have mostly gone away since around early November, so the ATR which is a measure of volatility has been steadily decreasing ever since then.

The really weird thing is that these long wicks only appear on the daily, weekly and monthly charts. When I looked at all the various minute or hourly charts I'll be damned if I could see any long wicks at all for these time periods. Sorry if I'm being so anal about this...I spent my professional career as a test engineer and I guess it's just driving me a little nuts and was hoping that if there was somebody out there who owns this stock and is also heavy into technical analysis they might be able to take a quick look at it and see if they can help me figure out what the hell is going on. For reference I am using tradingview's free version for charting.

Anyway, that is why Schwab won't allow their customers to trade this stock online...apparently they must have some volatility trigger built into their software and if a stock's ATR or some other volatility number exceeds this limit they then flag it so we can't trade it on our puters and have to call in our orders. Perhaps if the ATR continues to drop it will eventually get unflagged and we can start trading it online again.