2024-04-28 18:00:00 ET
Summary
- Altria Group Inc. experienced significant declines in cigarette sales, with Marlboro dropping by 8.7% and the discount segment declining by over 30%.
- Altria's price hikes are no longer doing their magic as revenues declined year over year.
- We go over the challenges ahead and why we like another cigarette stock far more.
On our last coverage of Altria Group, Inc. ( MO ) we pointed out the bull case was being undermined by a bunch of quitters. Investors were too drunk on the dividend hike to care, and the stock glided higher....
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For further details see:
Altria: Why We Prefer British American Tobacco