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Motley Fool
Why Altria Could Win With E-Cigs This Time
The looming demise of Juul Labs represents a big opportunity for tobacco giant Altria Group (NYSE: MO) to reenter the electronic cigarette market. Having previously given up its own ambitious e-cig growth strategy in exchange for an ownership stake in Juul, which at the time was an industry colossus with a 75% market share, Altria has watched the value of its $13 billion investment go up in smoke. At the end of June, the cigarette maker had written down the value of Juul to a meager $450 million, a 96% loss in value.
