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Lola Goes to the Olympics

Lola Goes to the Olympics
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Tobacco maker s stock drops after report Biden administration considering nicotine regulation

Tobacco maker s stock drops after report Biden administration considering nicotine regulation Joe Raedle/Getty Images and last updated 2021-04-19 21:07:30-04 Stock prices for cigarette maker Altria Group, formerly known as Philip Morris, dropped Monday after reports the Biden administration is considering reducing the level of nicotine allowed in cigarettes. The Wall Street Journal reports under consideration right now is a mandate to lower nicotine levels in all cigarettes sold in the U.S. to levels which are no longer addictive. Altria’s stock dropped 6% Monday, and another 2% in after-hours trading. Driving this conversation is another cigarette-related decision the administration must make soon.

Tobacco giant s stock falls on report of potential new Joe Biden cigarette regulation

News that a major new regulation may be coming for cigarette makers put investors in the US on alert today. Shares of tobacco giant Altria Group, formerly known as Philip Morris, plunged following a report from the Wall Street Journal that said the Biden administration is considering mandating cigarette makers reduce the level of nicotine in their products to the point that they would no longer be addictive. While nicotine doesn t directly cause disease, it is the highly addictive compound that helps to keep people using cigarettes. A report that the Biden administration is planning to enforce new restrictions on Big Tobacco could have wide implications for the industry.(Getty)

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