
Tobacco giant's stock falls on report of potential new cigarette regulation
CNN
News that a major new regulation may be coming for cigarette makers put investors on alert Monday afternoon.
Shares of tobacco giant Altria Group (MO), formerly known as Philip Morris, plunged on Monday following a report from the Wall Street Journal that said the Biden administration is considering mandating cigarette makers reduce the level of nicotine in their products to the point that they would no longer be addictive. While nicotine doesn't directly cause disease, it is the highly addictive compound that helps to keep people using cigarettes. Altria stock closed down more than 6%, and dipped another 2% in after-hours trading.More Related News

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