Tobacco shares experienced mixed reactions on Thursday after reports surfaced that the Food and Drug Administration (FDA) granted authorization for Juul Labs’ e-cigarettes to remain available in the U.S. market.
Altria Group (NYSE:MO) edged up by 0.1%, while Philip Morris International (NYSE:PM) narrowed its losses to 0.5%, and British American Tobacco (NYSE:BTI) reduced its decline to 0.3% in response to the news.
Sources familiar with the matter revealed that the FDA approved Juul’s original vaporizer device along with refill cartridges in tobacco and menthol flavors. This marks a pivotal shift, coming five years after Juul first submitted its products for federal evaluation and reversing the FDA’s 2022 ban that nearly pushed the leading vaping company into bankruptcy.
Philip Morris International stock price
British American Tobacco stock price
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