COIN - Wall Street Breakfast: Up In Smoke

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Up in smoke Tobacco stocks like Altria (MO) and Philip Morris (PM) are continuing to sell off premarket amid reports of new regulatory efforts by the Biden administration. Under consideration is requiring tobacco companies to lower the nicotine levels of all cigarettes sold in the U.S. to a level at which they are no longer classified as addictive. The move comes as administration officials approach another deadline on whether or not to ban menthol cigarettes.Bigger picture: The FDA must respond in court by April 29 to a citizen's petition to ban menthols by disclosing whether the agency intends to pursue such a policy. The Biden administration is weighing whether to move forward on a menthol ban or a nicotine reduction in all cigarettes - or both.

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Wall Street Breakfast: Up In Smoke