The Strange Interest In The Stock Of 22nd Century Group Inc (OTCBB:XXII)
This month is starting as a great success for the stock of 22nd Century Group Inc (OTCBB:XXII) as so far their price per share is going nowhere but up, heading for new hights and breaching the $1 barrier.
This week was very low on trades, because of the shortened trade session on July 3 and of course the July 4 holiday. Little movements in price accompanied by low volumes of traded stock are the main things that we can see in the charts. XXII begs to differ at least in one of these things, however. Their stock is heading nowhere but North since the beginning of the month and is going higher and higher in the charts without any visible reasons.
The good part is that the stock’s price is rising even though there isn’t any promotional campaign and there have been no press releases from June 10. In the half trading session on July 3 the stock jumped 8% up, going from $0.85 at market open to $0.919 at market close on a below average volume of 121 thousand shares.
Today the company is continuing its ascend as they have almost reached a 2 digit percentile movement. The stock opene on its July 3 closing price of $0.919 and is going nowhere but up with a current price of $1. Will it continue to go in the same direction, however. Well probably yes, because it’s being touted all over the usual investor forums. People ready to buy are all around the place and are being enticed by other who already bought the stock.
This is great, however, lets remind ourselves how the company is doing financial-wise with the numbers of prime interest from their latest quarterly report covering the period ended March 31.
- cash: $278 thousand
- total assets: $2.9 million
- current liabilities: $1.8 million
- total liabilities: $10 million
- revenue: $0
- net loss: $2.5 million
It seems they are on an above average level with the only bad thing being the lack of revenue. Will that change, however, is for the future to tell. The stock can crash at any minute if some bad news come out or can go even more up if the news is good and definitive, so be sure to do your due diligence before investing in XXII.
Another company that has a stock 3 day run this month is Trulan Resources Inc (OTCMKTS:TRLR) who are up 33% since the start of today’s session and are currently traded at $0.020. On the other hand there is BlueForest Inc (OTCBB:BLUF) who seems to be going nowhere, but have started today’s trade session optimistically with a 10% gain currently trading at $1.85.
