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Altria's CAGNY presentation was based on its plan to move beyond smoking. From 2015 to 2020, tobacco volumes only fell 1% per year when you include non-combustibles.
Altria tries to be ESG, but ESG funds aren't investing in it.
on! will have unconstrained capacity by mid-2021.
IQOS has new bundles and a lending program which caused its penetration rate in Charlotte to be triple that of Atlanta in the same length of time.