Tobacco Shares Fall After WSJ Reports US May Lower Nicotine in Cigarettes

   By Stephen Nakrosis

Shares of some tobacco companies slipped after The Wall Street Journal reported the Biden administration was considering requiring cigarette makers to lower nicotine levels to non-addictive levels.

The WSJ also reported the administration is nearing a deadline to decide whether it will move to ban menthol cigarettes.

At 3:25 p.m. ET, the American depository receipts of British American Tobacco PLC fell 1.78% to $39.79 a share. The ADRs opened trading at $40.97 and earlier had traded as high as $41.14.

Shares of Altria Group Inc. slid 4.47% to $49.07 at 3:27 p.m. ET. The stock opened at $52.31 and traded as high as $52.55 earlier.

Shares of Phillip Morris International Inc. dipped 1.27% to $91.73 at 3:28 p.m. ET. The stock opened at $93.35 and had traded as high as $93.43 earlier in the day.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

April 19, 2021 15:52 ET (19:52 GMT)

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