E-Cigarette Stock Combusts Amid FDA Report

Altria (MO) is the subject of today’s FOMO segment. In this segment Alex Coffey and Jenny Horne discuss the parent company of Juul and a new report that the FDA is set to ban Juul E-Cigarettes from the U.S. market. Jenny explains the Wall Street Journal report which indicates that U.S. health officials will reject Juul’s application to sell tobacco and menthol-flavored products. The FDA plan is for the elimination of nicotine to nonaddictive levels in combustible cigarettes. Alex and Jenny look at what the news is doing to cigarette manufacturer stocks overall. Finally, Alex demonstrates an example trade using shares of Altria (MO) which were trading as low as $41 Wednesday afternoon. That’s a new 52 week low.