Why I Bought the Stock of This Hated Company

Rich Duprey, The Motley Fool

August 19, 2022 at 8:02 a.m.·4 min read

Why I Bought the Stock of This Hated Company

It's no wonder Altria's (NYSE: MO) stock has lost more than a fifth of its value in just a couple of months. Marketing partner Philip Morris International (NYSE: PM) is getting cold feet on working with Altria to sell its IQOS heated tobacco device while also just acquiring the leading competitor to Altria's own smokeless tobacco products. At the same time, the federal government all but obliterated Altria's $13 billion investment in Juul Labs, the one-time electronic-cigarette leader.

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