Altria Group Inc (MO): Tobacco stocks move lower after Mitch Mc...

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Friday, 04/19/2019 4:06:43 PM

Friday, April 19, 2019 4:06:43 PM

Tobacco stocks move lower after Mitch McConnell unveils bill to raise legal age to 21 vs. 18
By: MarketWatch | April 18, 2019

Tobacco stocks fell Thursday, after Senate Majority Leader Mitch McConnell (Repub-Ky.) said he would introduce legislation that would raise the age to buy tobacco from 18 to 21. The new age limit would apply to all vaping and tobacco products, although young members of the military would be exempted. The news comes after a long campaign by outgoing Food and Drug Administration Commissioner Scott Gottlieb to crack down on teen vaping. Altria Group Inc. shares fell 2.7%, while Philip Morris International Inc. was down 1.1%. U.S.-listed shares of British American Tobacco BTI, -1.18% fell 1.3%.

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