XLP - What's Happening With Tobacco Major Philip Morris Shares On Tuesday? | Benzinga
Tobacco major Philip Morris International Inc. (NYSE:PM) is trading lower in premarket today.
Swedish Match North America LLC (SMNA), an affiliate of Philip Morris, received a subpoena from the Attorney General of the District of Columbia, requesting details on SMNA’s adherence to D.C.'s ban on the sale of flavored products, particularly focusing on ZYN nicotine pouches.
Early investigations revealed that flavored nicotine pouches have been sold in D.C., mainly through online platforms and some independent retailers.
In response, Philip Morris has directed SMNA to conduct a thorough review of its sales and distribution channels in D.C. and other areas affected by flavor restrictions.
As a preliminary action, SMNA has suspended online ...