22nd Century Group Inc (XXII)

[Old Curmudgeon]

Sold out today in my Roth at $4.78. Bought 15,000 shares at .78 cents four years ago. Following the advice of Peter Lynch: Sell when the reason you buy a stock changes or doesn't come to fruition if you are placing a bet. They still are not making money and I don't see any sign of them making money in the future. They let a group take 6% of the company for a much needed infusion of cash. Issuing more stock is rarely a good sign. Then the CEO sells what looks like 10% of his holdings at $4.50 a share. He claims he needs it for taxes, which is always a convenient excuse. Then we get yet another press release talking about all the great things they are doing and will do, but still no signs of making a profit. Four years and God knows how many senior leadership changes later, I have cashed in.