British American Tobacco Lost Nothing By Waiting to Enter the Marijuana Market
Tobacco companies have been interested in marijuana for decades, but only recently have cigarette producers made serious investments in the industry.
While that's due to a combination of declining cigarette consumption, the prevalence of decriminalization and legalization, and greater public acceptance, it represents a new opportunity for tobacco companies to profit. The latest cigarette giant to stick its toe in the water is British American Tobacco (NYSE: BTI), which is testing out a cannabidiol (CBD) vape product in the U.K.
While the owner of Lucky Strike, Camel, Kent, and Pall Mall is several years behind its peers in investing in the marijuana market, the results of those earlier investments indicate British American did itself no harm by taking a wait and see approach. It may be better off because of it.
Source Fool.com
