The Top E-Cigarette Stock to Watch, as Trump Readies Ban
President Trump was preparing to ban flavored e-cigarettes in September 2019.
All after six people died from vaping.
And after reports of another 450 cases of severe lung injury in 33 states.
“The Trump Administration is making it clear that we intend to clear the market of flavored e-cigarettes to reverse the deeply concerning epidemic of youth e-cigarette use that is impacting children, families, schools and communities,” Health and Human Services Secretary Alex Azar said, as quoted by NBC News. “We will not stand idly by as these products become an on-ramp to combustible cigarettes or nicotine addiction for a generation of youth.”
Worse, the U.S. FDA has been warning of the dangers of vaping for the last year.
In 2018, Scott Gottlieb even warned, “E-cigs have become an almost ubiquitous — and dangerous — trend among teenagers.
“The disturbing and accelerating trajectory of use we’re seeing in youth, and the resulting path to addiction, must end. The FDA cannot tolerate a whole generation of young people becoming addicted to nicotine as a tradeoff for enabling adults to access these products.”
In December 2018, a survey conducted by the National Institutes of Health found that more than a fifth of high school seniors – 20.9% -- said they have vaped nicotine in the last 30 days.
Even members of Congress are turning up the heat on the industry.
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Some of the top cigarette stocks that could see a negative impact of the news include companies like Altria (MO) over increasing scrutiny over JUUL and other vaping products. At the moment, MO owns a 35% stake in JUUL, and could potentially see fallout over the situation.
“Vapor products are under growing scrutiny in the US, and there may be more risk than we had expected to FDA approval of JUUL,” said analysts at Piper Jaffray, as quoted by CNBC.
It’s just something to keep in mind if you’re looking for opportunity in tobacco stocks.
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