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Juul Ban: Here's What Altria Investors Need to Know

·4 min read
Juul Ban: Here's What Altria Investors Need to Know
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The Food and Drug Administration recently announced a ban, blocking electronic cigarette maker Juul Labs from selling its products in the United States. The decision could mark a painful end to the disastrous saga for Altria Group (NYSE: MO), which bought a 35% stake in Juul for $12.8 billion in late 2018. Altria's stock responded to the move by dropping near its 52-week low, but the ban of Juul isn't necessarily the blow to Altria the market is acting like it is.