Altria writes down Juul investment by $4.5 billion amid vaping crackdown

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

The tobacco giant said no single factor led to the charge, but it did cite the increasing regulatory pressure on vaping.

Tobacco giant Altria said it wrote down its investment in e-cigarette maker Juul by $4.5 billion during the third quarter. The company said no one factor led to the charge, but it did cite the rising regulatory pressure on vaping and flavored e-cigarettes. Altria purchased a 35% stake in Juul last year for $12.8 billion, valuing the company at $38 billion. Watch Altria trade live on Markets Insider. Altria, the owner of Marlboro, wrote down its investment in e-cigarette maker Juul by $4.

Tobacco giant Altria said it wrote down its investment in e-cigarette maker Juul by $4.5 billion during the third quarter. The company said no one factor led to the charge, but it did cite the rising regulatory pressure on vaping and flavored e-cigarettes. Altria purchased a 35% stake in Juul last year for $12.8 billion, valuing the company at $38 billion. Watch Altria trade live on Markets Insider. Altria, the owner of Marlboro, wrote down its investment in e-cigarette maker Juul by $4.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Altria writes down Juul investment by $4.5 billionAltria wrote down its investment in Juul by about one-third, recording a $4.5 billion pre-tax charge against its third-quarter earnings, the company said Thursday.
Source: CNBC - 🏆 12. / 72 Read more »

Altria writes down investment in troubled e-cigarette maker Juul by $4.5 billionAltria wrote down its investment in Juul by about one-third, recording a $4.5 billion pre-tax charge against its third-quarter earnings, the company said Thursday.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves premarket: Altria, Bristol-Myers Squibb, Generac, Apple and moreThese are the stocks posting the largest moves before the bell. trainedandready act when cat is away standto principles principally sound sourcing enemy never sleeps i,,me i,, v. i,,support i,,access followthebouncingball princeton harvard MACcosmetics racks rackets BIG move not local trash can who HUathletics
Source: CNBC - 🏆 12. / 72 Read more »

Juul will cut 500 jobs as it prepares for a ban on flavored pods - Business InsiderJuul will cut 500 jobs as it prepares for a proposed nation-wide ban on flavored pods, which comprise over 80% of its US sales.
Source: BusinessInsider - 🏆 729. / 51 Read more »