MO drops on Biden banning nicotine?

20 abr 2021

lol what? Tobacco stocks are dropping on news that Biden is planning to restrict nicotine content in tobacco products. This brings MO down about -12% from the high two days ago but still up 14% on the year. It is an attractive dividend yield play at this price (about 7%) but waiting for it to come to a proper support before buying myself.

I like MO actually as a pot stock play. They are already positioned in the industry through acquisitions a few years ago. I think that companies who have hundreds of years of experience in growing, cultivating, processing and (most importantly) marketing smoking products will do well in the long term future.