‘High’ hopes for 22nd Century Group
22nd Century Group Inc is a plant biotechnology company, which provides technology that allows increasing or decreasing the level of nicotine in tobacco plants and cannabinoids in cannabis plants through genetic engineering and plant breeding.
On the 5th of June of this year, the Chairman of 22nd Century Group Inc, (XXII) Nora Sullivan purchased 101,325 shares valued at $83,222 and on the 30th June a further 22,000 shares valued at $17,160. Whilst this is not a huge amount, it does show confidence regarding the future share price for this company going forward.
Other holders include Goldman Sachs Group (154,531 shares) Charles Schwab Investment Management Inc (267,453 shares) BNY Mellon Asset Management (473,625 shares) BlackRock Inc. (2,250,801 shares) ETF Managers Group LLC (13,993,368 shares)
Providing we stay above the demand zone it’s our opinion that this is potentially a good stock to hold for the short-medium term and possibly long term.