, Columnist
Vaporized! Will An Altria Setback Benefit BAT?
The US FDA may be preparing to ban the e-cigarette maker. That would be a blow to tobacco giant Altria, which owns a 35% stake.
That’s a no.
Source: Bloomberg
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Juul Labs Inc. had already slipped from Altria Group Inc.’s crown. Now the tobacco company’s investment in the e-cigarette maker could receive a further setback.
The US Food and Drug Administration is preparing to order Juul, in which Altria holds a 35% stake, to take its e-cigarettes off the market, the Wall Street Journal reported on Wednesday. Altria shares fell as much as 10%, the most since March 2020.