CNN 7 December 2018
Family First Comment: Big Tobacco 🚬 = Big Marijuana 💨
We shouldn’t be sucked in twice.
Altria hopes pot is the key to help it grow beyond its stagnant cigarette business.
Tobacco giant Altira is investing $1.8 billion in Canadian cannabis company Cronos Group. That will give Altria a 45% stake in the company, with an option for Altria to increase its stake to 55% over the next five years.
Altria’s stock has fallen nearly 25% this year and the company is expected to report revenue growth of only about 1% this year and in 2019.
READ MORE: https://edition.cnn.com/2018/12/07/investing/altria-cronos-investment-marijuana/index.html