Hedge Funds Getting Addicted To Altria Despite Bears’ Warnings

After experiencing a tough 2018, Altria bought a 35% stake in Juul at a $38 billion valuation at the end of 2018. At the time it seemed like e-cigarettes’ explosive growth will continue uninterrupted and around 10% of the young adults said in surveys that they “regularly or occasionally” vape. These young adults were using vaping sites such as vaporsolo.com instead of traditional stores to shop. Juul’s deal with Altria was designed to put Juul’s products next to Marlboro cigarettes...