This Alternative Tobacco Company Is Seeing Increased Demand
When Turning Point Brands (NYSE: TPB) reported its first-quarter earnings, it disclosed that it was actually hiring at its plant in Louisville, Kentucky, to keep up with rising demand. This was somewhat surprising given the rising unemployment across the country in the context of the COVID-19 pandemic. However, maybe it is not that surprising, given that Turning Point Brands is a tobacco company and its customers aren't going anywhere.
Turning Point Brands isn't a cigarette producer; it focuses on alternative tobacco products including smokeless tobacco, rolling papers, vaping, and cannabidiol (CBD) products, all of which have seen organic volume growth in recent years. Given the strong demand for its products, should investors consider adding Turning Point to their portfolios?
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Source Fool.com
