Jeff Auxier Comments on Altria Group
- By Holly LaFon
Altria Group, Inc. ( NYSE:MO )
Altria has aggressively pushed its way into the new E-cigarette (also known as vaping) and cannabis markets by making deals with Cronos and Juul. With Cronos, Altria gets a 45%, with an option to increase to 55%, stake in a Canadian marijuana company with a strong research division and an asset-lite approach that avoids the actual cultivation of marijuana. With Juul, Altria gets a 35% stake in one of the fastest growing E-cigarette companies while also providing it with the cash to continue its rapid growth. Sales for Juul grew from $200 million in 2017 to over $1 billion in 2018. However, they paid a very steep price for entry.
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The intrinsic value of MO
From Jeff Auxier (Trades, Portfolio)'s fourth-quarter 2018 market commentary.
This article first appeared on GuruFocus.
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The intrinsic value of MO
