Why I Bought the Stock of This Hated Company
It's no wonder Altria's (NYSE: MO) stock has lost more than a fifth of its value in just a couple of months.
Marketing partner Philip Morris International (NYSE: PM) is getting cold feet on working with Altria to sell its IQOS heated tobacco device while also just acquiring the leading competitor to Altria's own smokeless tobacco products. At the same time, the federal government all but obliterated Altria's $13 billion investment in Juul Labs, the one-time electronic-cigarette leader.
Even though cigarettes are in a secular decline in the U.S., there remains a lot to like about this U.S. tobacco giant.
Source Fool.com
