Altria Stock: Buy, Sell, or Hold?
There was a time when tobacco giant Altria Group (NYSE: MO) -- investors used to know it as Philip Morris -- seemed unstoppable. Smoking was common, with more and more people starting the habit.
Then sweeping smoking cessation efforts began. Although they got a slow start, their persistence is proving effective. The CDC reports the percentage of Americans who regularly smoke has fallen from 40% in the 1960s to a multi-decade low near 11% now. Presumably, that number will continues to dwindle.
Other types of tobacco usage are in similar decline, and vaping isn't exactly offsetting the tobacco market's contraction. The business has little hope for long-term growth.
Source Fool.com
