Why 22nd Century Group Shares Are Trading Lower Today

22nd Century Group Inc XXII is trading lower Monday as investors react to the company's announcement it will enter the specialty hops market.

The global specialty hops market will be 22nd Century Group's third and newest plant franchise. It currently focuses on improving health and wellness through plant science in its tobacco and hemp/cannabis franchises.

"Like our existing franchises, the hop plant market is ripe for disruption and offers opportunities for 22nd Century to provide unique and significant competitive advantages to commercial partners," said James Mish, CEO of 22nd Century Group.

22nd Century Group is a U.S.-based plant biotechnology company focused on developing technology that allows the increase or decrease in the level of nicotine and other nicotinic alkaloids in tobacco plants and levels of cannabinoids in cannabis plants through genetic engineering and plant breeding.

XXII Price Action: 22nd Century Group has traded as high as $6.07 and as low as 55 cents over a 52-week period.

The stock was down 11.70% at $3.50 at time of publication. 

Photo by RitaE from Pixabay.