4Semana·

Why $MO (+0,45 %) is now also rising is a mystery to me.


  • No exposure to the stabilizing / slightly growing international cigarette market.
  • No exposure to the growing international HTU market.
  • No exposure to the growing international nicotine pouch market.
  • No exposure to emerging markets.


So no exposure to what made the $PM (+0,1 %) made the numbers so good.

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The e-cigarette market is inspiring investors. Sales in this area have grown immensely. The same applies to smoke-free alternatives.
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I would even say that no share in the world is as blatantly underestimated in Germany as the Altria share. It has a 100 times better reputation in the USA than here in Germany.
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This does not necessarily have to be due to the PM figures. Over time, falling interest rates or other aspects may be more strongly priced in again.
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