Philip Morris International Inc. Stock Outperforms Competitors Despite Losses On The Day

22nd Century Group Inc

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Consumer Staples : Tobacco | Small Cap Growth

Company profile

22nd Century Group, Inc. is an agricultural biotechnology and intellectual property company. The Company is focused on tobacco harm reduction, reduced nicotine tobacco and improving health and wellness through plant science. In tobacco, hemp/cannabis, and hop plants, it uses various plant breeding technologies, including genetic engineering, gene-editing, and molecular breeding to deliver solutions for the life science and consumer products industries by creating new plants with optimized alkaloid and flavonoid profiles, as well as improved yields and valuable agronomic traits. It has developed very low nicotine content (VLNC) tobacco and cigarettes, which contain 95% less nicotine than conventional tobacco and cigarettes. Its reduced nicotine cigarettes include VLN King and VLN Menthol King. In hemp, the Company is developing hemp varieties with increased levels of certain cannabinoids and other desirable agronomic traits. The Company has an interest in RX Pharmatech Ltd (RXP).

Philip Morris International Inc. Stock Outperforms Competitors Despite Losses On The Day

5:30 pm ET December 6, 2022 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Philip Morris International Inc. (PM) slid 1.79% to $101.63 Tuesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index falling 1.44% to 3,941.26 and Dow Jones Industrial Average falling 1.03% to 33,596.34. This was the stock's second consecutive day of losses. Philip Morris International Inc. closed $10.85 below its 52-week high ($112.48), which the company reached on February 18th.

Despite its losses, the stock outperformed some of its competitors Tuesday, as Altria Group Inc. (MO) fell 2.08% to $46.21. Trading volume (7.2 M) eclipsed its 50-day average volume of 4.8 M.

Data source: Dow Jones Market Data, FactSet. Data compiled December 6, 2022.

(END) Dow Jones Newswires

December 06, 2022 17:30 ET (22:30 GMT)