22nd Century Group Inc (NYSEAMERICAN: XXII) stock is one of the most notable this week with a gain of over 40% so far this week. At the time of writing, the stock is up by 13.20% at $4.55 in early morning sessions.
The recent optimism has taken the stock to a 2-month high and now just 2.50% away from its 52-week high of $4.66. Once the stock crosses the new high and consolidates, the stock could enter the new breakout zone.
This week, the company reported that it is fully prepared to partner with the U.S. Food and Drug Administration (FDA) to launch its VLN® reduced nicotine content cigarette brand and license its reduced nicotine content (RNC) tobacco technology to every cigarette manufacturer.
But, should note that despite being a loss-making company, 22nd Century Group has seen its stock go up considerably this year.
XXII stock has soared over 650% since late September. So keep an eye on the stock if the momentum can continue after the recent buying interest.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.