Anheuser-Busch

$BATS (+1,3 %) and $MO (+1,32 %) have both shares in $ITC / $BUD sold. The proceeds from both are to be used to buy back shares. However, there are major differences here.

• BAT operates in 180 markets, Altria really only in one
• BAT is the global No.2 in heated tobacco, Altria has no product yet
• BAT is the global No.1 in vapes, Altria has only a minimal market share in the USA
• BAT is the global No.1 in oral tobacco, Altria is No.2 in the USA
• BAT sells ITC shares at a profit, Altria sells ABI shares at about 50% loss

The situation of the two companies could not be more different.

Instead of using the money from the sale to finally position itself properly in the global market, Altria is using the money for further share buybacks. The big question now is how many more missteps Altria can afford.

I will be comparing Philip Morris, Altria and BAT in detail in the next quarterly figures.

Altria $MO (+1,32 %) sells part of its $BUD shares. The value of the investment has now halved ($64) since it was acquired ($127). Altria intends to use the proceeds to buy back its own shares. In my opinion, this is yet another bad decision by the management. $BUD It joins the ranks of the flawed JUUL and Cronos investments. To now sell shares in an investment that was previously defended and was supposed to provide long-term shareholder value in order to relieve the company's own share price in the short term resembles an act of desperation. Moreover, they could not even bring themselves to sell the entire package, which they should never have acquired.

For me, this confirms once again why I sold Altria.