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
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
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 firstname.lastname@example.org
(END) Dow Jones Newswires
April 19, 2021 15:52 ET (19:52 GMT)
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