Here's What's Pushing Up 22nd Century Group Inc. Stock Today
Shares of 22nd Century Group Inc. (NYSEMKT: XXII), a plant biotechnology company focused on tobacco-harm reduction, popped 12.3% higher before settling to a gain of about 6.9% as of 3:22 p.m. EDT during Wednesday's session. The company made some big claims about its possible role in a shifting U.S. market for non-addictive tobacco.
Earlier this year, Food and Drug Administration (FDA) Commissioner Scott Gottlieb made noise about lowering acceptable nicotine levels for tobacco products to levels that would render them non-addictive. 22nd Century Group holds numerous patents for genetically engineered tobacco plants that would suddenly become very popular if the FDA actually followed through with a non-addictive tobacco mandate.
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Source: Fool.com