An Upcoming FDA Decision on Nicotine Could Send This Stock Soaring
With so much hype around cannabis legalization at the state, and potentially federal, level, it can be easy to lose track of the debate involving cigarette smoking and nicotine addiction. But for 22nd Century Group (NYSEMKT: XXII), that debate doesn't get lost. In fact, it's at the center of the company's product portfolio, and a primary driver of revenue for 2021, through expansion of its growing program and premium pricing for its very low nicotine (VLN) cigarettes.
Now comes word that the Biden administration is considering a proposal from the U.S. Food and Drug Administration (FDA) to reduce nicotine levels in all cigarettes sold in the U.S. to minimally or non-addictive levels. This one major move could have drastically different impacts for "cigarette" companies. For 22nd Century, in particular, this could be the moonshot it's been waiting for.
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Source Fool.com
