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22nd Century Soars on Biden Admin Decision, Here's All You Need to Know

By Vlad Schepkov Shares of 22nd Century Group (NASDAQ:XXII) are among the most active movers in Wednesday's midday session, gaining about 25% in heavy trading, following the...
22nd Century Soars on Biden Admin Decision, Here's All You Need to Know © Reuters. 22nd Century (XXII) Soars on Biden Admin Decision, Here's All You Need to Know

By Vlad Schepkov

Shares of 22nd Century Group (NASDAQ:XXII) are among the most active movers in Wednesday's midday session, gaining about 25% in heavy trading, following the publication of the Biden Administration’s plans to mandate a lower maximum nicotine level in tobacco products.

According to an FDA PR, dated June 21st, 2022, “the U.S. Food and Drug Administration’s plans to develop a proposed product standard that would establish a maximum nicotine level to reduce the addictiveness of cigarettes and certain other combusted tobacco products.”

The proposal features few specific details for now and a concrete policy may still be years away, although the plan marks yet another official move in the FDA’s long struggle to reduce smoking.

The news was enough to set off a hunt for XXII’s shares and here's why:

22nd Century Group is the maker of VLN King and VLN Menthol King 95% - the first and only reduced nicotine content cigarettes to earn the FDA’s Modified Risk Tobacco Product (MRTP) designation. The agency went as far as to require the company to include “Helps You Smoke Less” on product packaging and advertising.

Although 22nd Century is currently only selling its products through a limited pilot program in the Chicago area, XXII plans a national launch following the pilot’s completion.

Dawson James Securities analyst James McIlree sees the company as possibly the biggest beneficiary of a potential low-nicotine mandate. He highlights that “complying with a non-addictive low-nicotine mandate will be expensive for the industry if it pursues nicotine extraction or plant modification on its own.”

The analyst thus sees many major players rather focusing on e-cigarette products, leaving “the combustible market wide open for 22nd Century’s VLN,” as the company already has technology “that could solve their problem.” Dawson James believes “This is bullish for 22nd Century”, as they reiterate a Buy rating and $8.50 price target on the shares.

XXII is trading holding above $2, as of midday, up nearly 25%.

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01-07-2022 03:02:17 (UTC+7)

EUR/USD

1.0481

+0.0042 (+0.40%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

EUR/USD

1.0481

+0.0042 (+0.40%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

GBP/USD

1.2171

+0.0046 (+0.38%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (5)

USD/JPY

135.71

-0.88 (-0.64%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

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AUD/USD

0.6903

+0.0022 (+0.32%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

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USD/CAD

1.2872

-0.0019 (-0.15%)

Summary

Sell

Moving Avg:

Buy (2)

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Buy (2)

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EUR/JPY

142.24

-0.34 (-0.24%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

EUR/CHF

1.0004

+0.0033 (+0.33%)

Summary

Neutral

Moving Avg:

Buy (7)

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Buy (2)

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Gold Futures

1,807.65

-9.85 (-0.54%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

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Silver Futures

20.253

-0.485 (-2.34%)

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↑ Sell

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Buy (2)

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Buy (0)

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Copper Futures

3.6860

-0.0945 (-2.50%)

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Neutral

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Crude Oil WTI Futures

105.81

-3.97 (-3.62%)

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↑ Buy

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Brent Oil Futures

109.16

-3.29 (-2.93%)

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Natural Gas Futures

5.584

-0.914 (-14.07%)

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↑ Buy

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US Coffee C Futures

230.28

+2.03 (+0.89%)

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Neutral

Moving Avg:

Buy (5)

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Buy (3)

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Euro Stoxx 50

3,454.86

-59.46 (-1.69%)

Summary

↑ Buy

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Buy (12)

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Indicators:

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S&P 500

3,790.30

-28.53 (-0.75%)

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↑ Buy

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Sell (2)

DAX

12,783.77

-219.58 (-1.69%)

Summary

Neutral

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FTSE 100

7,169.28

-143.04 (-1.96%)

Summary

Sell

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Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

Hang Seng

21,859.79

-137.10 (-0.62%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (3)

US Small Cap 2000

1,705.95

-7.37 (-0.43%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (0)

IBEX 35

8,098.70

-89.30 (-1.09%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

BASF SE NA O.N.

41.525

-0.055 (-0.13%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (1)

Bayer AG NA

56.72

-0.90 (-1.56%)

Summary

Neutral

Moving Avg:

Buy (6)

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Buy (2)

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Allianz SE VNA O.N.

182.12

-1.60 (-0.87%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

Adidas AG

168.76

-1.26 (-0.74%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (3)

Deutsche Lufthansa AG

5.564

-0.249 (-4.28%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Siemens AG Class N

97.09

-4.31 (-4.25%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (6)

Deutsche Bank AG

8.318

-0.253 (-2.95%)

Summary

Neutral

Moving Avg:

Buy (7)

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Indicators:

Buy (3)

Sell (4)

 EUR/USD1.0481↑ Buy
 GBP/USD1.2171↑ Sell
 USD/JPY135.71↑ Buy
 AUD/USD0.6903↑ Sell
 USD/CAD1.2872Sell
 EUR/JPY142.24↑ Buy
 EUR/CHF1.0004Neutral
 Gold1,807.65↑ Sell
 Silver20.253↑ Sell
 Copper3.6860Neutral
 Crude Oil WTI105.81↑ Buy
 Brent Oil109.16Buy
 Natural Gas5.584↑ Buy
 US Coffee C230.28Neutral
 Euro Stoxx 503,454.86↑ Buy
 S&P 5003,790.30↑ Buy
 DAX12,783.77Neutral
 FTSE 1007,169.28Sell
 Hang Seng21,859.79Sell
 Small Cap 20001,705.95↑ Buy
 IBEX 358,098.70Sell
 BASF41.525↑ Buy
 Bayer56.72Neutral
 Allianz182.12Sell
 Adidas168.76Buy
 Lufthansa5.564↑ Buy
 Siemens AG97.09↑ Sell
 Deutsche Bank AG8.318Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,810/ 6,870
(0/ 0) # 1,764
SJC HCM6,830/ 6,890
(0/ 0) # 1,783
SJC Hanoi6,830/ 6,892
(0/ 0) # 1,785
SJC Danang6,830/ 6,892
(0/ 0) # 1,785
SJC Nhatrang6,830/ 6,892
(0/ 0) # 1,785
SJC Cantho6,830/ 6,892
(0/ 0) # 1,785
Cập nhật 01-07-2022 03:02:19
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$1,806.96-12.11-0.67%
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Dầu hỏa 2-K28.78029.350
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.105,0023.415,00
EUR23.704,3925.032,07
GBP27.520,9428.694,87
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KRW15,5118,90
Cập nhật lúc 18:51:16 30/06/2022
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