22nd Century Group (Finally) Unveils Its Third Business

Up until recently, investors knew that plant biotechnology company 22nd Century Group (NASDAQ: XXII) was in both the tobacco and cannabis industries, plus another unnamed sector (which it initially alluded to last year). On Aug. 30, the company finally unveiled what that last business was: specialty hops. And with an estimated addressable market of $1.3 trillion across all three industries, there's significant potential for the business over the long term.

But while there's less mystique about its business model since the revelation, that doesn't mean the stock is any less risky. It's down by more than 35% in the past three months (the S&P 500 has risen 5% during that period) and the company is consistently incurring losses, meaning investors still need to be careful with 22nd Century Group as it could be awhile before its financials improve.

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