Why This Marijuana Stock Skyrocketed 157% in 2017

What happened

Progress in crafting marijuana plants that are high in the non-psychoactive marijuana cannabinoid cannabidiol (CBD) and tobacco that’s low in nicotine sent 22nd Century Group, Inc. (NYSEMKT:XXII) rocketing 157% higher in 2017, according to SP Global Market Intelligence.

So what

22nd Century is a plant biotechnology company that genetically engineers and breeds tobacco and cannabis plants to make them more valuable. Its primary work includes low-nicotine tobacco plants and hemp plants that can be used in soil remediation, but it’s also working on cannabis that’s high in CBD, a cannabinoid that’s been associated with positive outcomes in epilepsy patients.a

The company’s rally last year was mostly sparked by news at the end of July that the FDA is considering a mandate that would require the use of low-nicotine tobacco in cigarettes. 22nd Century has been working closely with the federal government on projects evaluating the use of low-nicotine

... read more at: https://www.fool.com/investing/2018/01/09/why-this-marijuana-stock-skyrocketed-157-in-2017.aspx