Altria Group Inc. took another big charge on its investment in Juul Labs Inc. and stripped down its agreement to provide services to the startup as it weathers regulatory crackdowns on the e-cigarette market.
The tobacco giant on Thursday said the value of its stake in Juul fell by $4.1 billion in the fourth quarter. It now values the e-cigarette maker at about $12 billion, down from its $38 billion valuation when Altria invested in 2018.
Jenkins11Mason An example of segmentation “gone wrong,” Juul and its investors face regulatory backlash and scrutiny for apparently focusing its tobacco based product and marketing material on a young, or even underage, demographic. Trendy branding/flavors perhaps too effective.
Not before they got half our high school kids addicted.
And no one is challenging the ability of the Feds to regulate this product... pathetic.
How did Juul slip through the cracks and become a thing in the 1st place? Good grief, how obvious should it have been that it's horrible for the lungs? Where was the US_FDA?
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: Variety - 🏆 108. / 63 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »