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Actionable news in PM: PHILIP MORRIS INTERNATIONAL Inc,

Tobacco Stocks Are Getting Smoked, Here's Why...

U.S. tobacco stocks are getting smoked this morning (led by a 12% crash in British American Tobacco and Philip Morris) after an FDA statement said it plans to pursue lowering nicotine in cigarettes to non-addictive levels.

Bloomberg reports,

The U.S. Food and Drug Administration will work to cut the amount of nicotine in cigarettes to nonaddictive levels, with the goal of preventing thousands of tobacco-related deaths a year. The surprise move sent shares of cigarette stocks plummeting.

While...


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