For the readers interested in the stock health of 22nd Century Group Inc. (XXII). It is currently valued at $2.33. When the transactions were called off in the previous session, Stock hit the highs of $2.47, after setting-off with the price of $2.44. Company’s stock value dipped to $2.34 during th
Cigarette makers plunge on news that US may curb nicotine
Tiffany Kary, Bloomberg News
FacebookTwitterEmail
Shares of Marlboro producer Altria Group Inc. plunged on Monday following a report that the U.S. government is considering a rule that would lower the nicotine content of cigarettes.
The Biden administration is mulling a requirement that nicotine be lowered to levels that aren’t addictive, the Wall Street Journal reported, citing people familiar with the matter. The Food and Drug Administration could also move to ban menthol cigarettes, the Journal reported.
Shares of Altria, which sells the Marlboro brand in the U.S., slumped 7% at 3:25 p.m. in New York trading. Philip Morris International Inc., which sells the brand internationally, also declined. Stock of 22nd Century Group Inc., which sells cigarettes with very low nicotine levels, jumped 18%.