[ACCESSWIRE]
CORAL GABLES, FL / ACCESSWIRE / August 24, 2017 / On Wednesday (8/23), The Fed met at their annual meeting in Jackson Hole, Wyoming as conviction for another U.S. rate hike before the end of 2017 has faded due to the concern of weak inflation. The minutes that were published on Wednesday (8/23) also signaled the Fed was ready to start cutting its $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities. The Fed left interest rates unchanged. With that being said, here are three stocks to watch after the Fed's meeting in Jackson Hole, Wyoming: Medical Imagining Corp. (MEDD), 22nd Century Group, Inc. (XXII) and Biostage, Inc. (BSTG).
Medical Imaging Corp. (MEDD) a provider of comprehensive medical imaging services to patients and client hospitals in the U.S. and Canada, announced on Monday (8/21) that they have upgraded their CT machine at their Naples, FL location.
"Our Naples CT business has been growing throughout 2017, so it was important to have the software installed to meet the new federal standards and ensure that we had a stronger and newer CT machine with greater up time as we approach the start of our busy season this fall," stated Mitch Geisler, CEO. "The machine has now been installed and we can resume scanning CT patients this week."
In the last week of trading, (MEDD) has seen an increase in trading activity resulting in an 18.40% increase in price per share from lows on August 14th at $0.0701 to Tuesday's (8/22) closing price at $0.083. The stock is currently trading between a price range of $0.08-$0.10. For Free Report on MEDD, Click Here.
22nd Century Group, Inc. (XXII) a plant technology biotech company that is focused on tobacco harm reduction and marijuana research has been seeing an increase in price per share since the start of this trading week. (XXII) Is up 13.86% from lows on Monday at $2.02 to pre-market highs on Thursday morning at $2.30. The company recently announced that a growing number of independent scientists specializing in tobacco harm reduction are publicly proclaiming the FDA's recent plan to reduce nicotine to non-addictive levels in cigarettes.
"More than $100 Million of independent research has demonstrated that 22nd Century's proprietary Very Low Nicotine tobacco could save many millions of lives and will prevent future generations of young people from becoming addicted to cigarettes," stated Henry Sicignano, III, President and CEOof 22nd Century Group. "22nd Century's technology is proven. The FDA plan is already feasible. The time to implement a mandate of Very Low Nicotine tobacco in all combustible cigarettes sold in the United States has arrived."
Biostage, Inc. (NASDAQ: BSTG) a biotechnology company that develops bioengineered organ implants to treat cancer, and other diseases is up 14% in pre-market trading on Thursday reaching highs of $0.38. Over the course of this trading week (BSTG) is up 51.39% from lows of $0.251 on Tuesday (8/22) to highs on Thursday of $0.38. The company recently announced Q2 2017 financial results on August 14th.
"In summary, the financial and clinical validation of the company has now created a funding runway through 2018," reported Jim McGorry, CEO of Biostage. "This is a material moment for Biostage as the Company has reduced its technical risk and is pursuing a speed to market strategy. We are delighted to extend Biostage's horizon with a key investment from a long-term strategic investor."
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