Investors weren't catching much of a buzz from Charlotte's Web (OTC: CWBHF) on Monday morning. The company -- which is considered a marijuana stock, although its products are made from hemp-derived cannabidiol (CBD) -- released disappointing results for the second quarter of fiscal 2020. For the quarter, Charlotte's Web booked consolidated revenue of $21.6 million, which only slightly exceeded the Q1 tally of $21.5 million, and was down by 13% on a year-over-year basis. The Q2 net loss was $14.4 million, or $0.13 per diluted share. This was deeper than the $11.5 million shortfall of the previous quarter, and far down from the $2.2 million profit the company eked out in Q2 2019. Image source: Getty Images. Neither headline number came close to analyst expectations. On average, prognosticators following the stock were modeling a top-line result of just over $25.9 million and a per-share net loss of only $0.04. The year-over-year decline in revenue came despite several recent positive developments for the company during the quarter, notably the closing of its Abacus Health Products acquisition. That company, now a business unit of Charlotte's Web, sells its topical CBD offerings in more than 12,000 U.S. pharmacies -- a high number for a product category that's still relatively new on the retail scene. The company also saw a big leap in direct-to-consumer (DTC) sales, which jumped by nearly 34% year over year. The channel now comprises almost 72% of overall revenue. The coronavirus pandemic, however, has had a deleterious effect on the company's business. While many dispensaries stayed open amid closures of other types of retail stores, consumers tended to sequester in their homes, venturing out only rarely. On Monday, Charlotte's Web stock declined by more than 6%, in contrast to the gains of the wider stock market. 10 stocks we like better than Charlotte's WebWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Charlotte's Web wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Charlotte's Web. The Motley Fool has a disclosure policy.Source