22nd Century Group Inc. (OTCMKTS:XXII) Still Going Down After 10-Q

The lack of new press releases and any definitive news about 22nd Century Group Inc. (OTCMKTS:XXII) is working badly for them, as they have been sliding down the charts since their latest quarterly report was filed with the SEC.

After managing to keep some level around the $1.30 mark last week XXII had a bad trade session in Friday, when they lost 6% of their value on below average, this week seems like it is going to go worse. Yesterday they lost a further 11.29%, however, this time they managed to go above their average of 318 thousand.

As the price moved from $1.24 to $1.10 a total of 351 thousand XXII shares switched hands. The day didn’t start with big volumes like the ones we are used to see in other OTC companies and most of the trading too place around noon, when the price started to drop. The total trade value that was generated by the amount of traded shares came at $387 thousand.

It seems that the people who took the time to check the numbers in the latest 10-Q, which we covered in our previous article about XXII weren’t very excited and this is evident from the company’s chart movement.

The only good sign is that XXII haven’t yet resorted to promotional campaigns, at least not through the regular channels that we keep an eye on. However, the lack of current information from the company is only working badly for their stock and they remain a risky choice for now. Be sure to do a lot of due diligence if you are thinking of buying in the low and prepare yourself to take a big risk.

These days we see an interesting movement in the medical marijuana stocks of Medical Marijuana Inc. (OTCMKTS:MJNA) and Growlife, Inc. (OTCBB:PHOT), who jumped in price in Friday’s and yesterday’s trade sessions on impressive volumes of traded stock. Today, however, isn’t going that well for both MJNA and PHOT and they are currently priced at $0.19 and $0.0385 respectively.