Cannabis stocks have taken a back seat in 2019 to growth in the larger cap performance stocks. However, there’s still plenty of opportunity down at the bargain end of the market. 22nd Century Group Inc. (NYSE: XXII) is one of the most unique options today.
This company is not a marijuana producer or a retailer. It’s a genetics company that is developing technologies that can be used to increase or decrease the levels of nicotine in tobacco. For the cannabis market, it is working on similar technology that will allow it to adjust the level of cannabinoids in plants.
Control over cannabinoid content will allow the company to create therapeutic products that have beneficial components, without those that provide users with a high. This technology is highly sought after and 22nd Century is one of the frontrunners in research and development.
Company sales revenue has been growing at a rapid pace for five consecutive years. In 2018, revenue was up 59.19%. This performance could continue thanks to the novel products that 22nd Century offers. It has few competitors and most of its products are in late stage development.
22nd Century is a long-term pick, especially for cannabis investors. However, the potential in its research is hard to ignore. It has strong momentum in the bargain market and its low price makes it highly accessible, even for the most cautious investor.
- 1 Year Price Growth: -17.61%
- YTD Price Growth: -6.02%
- 3 Month Price Growth: 71%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.