BACKGROUND The book Going Down Tobacco Road ended in 2017, about the time British American Tobacco bought the 60% of Reynolds American that it did not own. Mid-2017 saw the peak prices for tobacco stocks. Investors began to doubt tobacco’s long-term prospects, even though the cigarette companies were profitable, and the stocks had outsized dividends. Growth stocks were the market darlings – companies in high tech areas with profit growth projected for years ahead. Tobacco stocks’ performance lagged woefully.
TOBACCO STOCKS - AN UPDATE
TOBACCO STOCKS - AN UPDATE
TOBACCO STOCKS - AN UPDATE
BACKGROUND The book Going Down Tobacco Road ended in 2017, about the time British American Tobacco bought the 60% of Reynolds American that it did not own. Mid-2017 saw the peak prices for tobacco stocks. Investors began to doubt tobacco’s long-term prospects, even though the cigarette companies were profitable, and the stocks had outsized dividends. Growth stocks were the market darlings – companies in high tech areas with profit growth projected for years ahead. Tobacco stocks’ performance lagged woefully.