The S&P 500 has fallen 22% year to date as the U.S. economy grapples with rising inflation and interest rates, which can make it harder for businesses to raise the capital they need to grow. But down just 3%, tobacco maker Vector Group (NYSE: VGR) is holding its value relatively well in this challenging economic environment.
Vector Group is the fourth-largest cigarette manufacturer in the U.S. and focuses on the discount market through brands such as Grand Prix, Liggett Select, and Pyramid. The company is also involved in real estate through its subsidiary New Valley, but management significantly reduced real estate exposure by spinning off its New York real estate brokerage, Douglas Elliman, in late 2021.
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Source Fool.com