Why Turning Point Brands Is a Tobacco Stock to Watch
Everyone has heard of large tobacco companies like Philip Morris, but less-known Turning Point Brands (NYSE: TPB) is worth paying attention to if you are an investor.
Turning Point is an independent U.S.-based "other tobacco products" company -- which basically means non-cigarette smoking products. The company has done a great job delivering earnings growth, even during the pandemic, and is setting up for a bright future if it can continue to execute on its strategy.
Turning Point specializes in selling moist snuff tobacco, loose leaf chewing tobacco, premium cigarette papers, make-your-own (MYO) cigar wraps, cigars, and liquid-vapor products. This segment of the market is referred to as the "other tobacco products" category, and it accounted for $11.5 billion in sales in 2019. Unlike cigarettes, this segment has actually seen sales volumes increase, making it a more attractive market for Turning Point.
Source Fool.com
