Introduction:
Pyxus International (PYX) is heavily indebted seller of loose leaf tobacco looking to gain exposure in the recreational marijuana sector as part of a growing mania for international legalization of the drug. The company's sales have been on constant decline since 2015, and currently has absolutely no cash to set aside for capital investments in the marijuana field. Every single pot player in this business has both healthier balance sheets and better marijuana exposure than PYX. Investors should not be fooled by the company's deceptively low P/E and P/B metrics and stay