NJOY Is Thriving, but Altria Needs More Than Vaping Before Investors Buy the Stock

The stock of Altria (NYSE: MO) has risen more than 20% over the past year as investor sentiment around cigarette makers has improved across the board. The big story for all the major companies in the space has been the growth of cigarette alternatives, like vaping products and pouches.For Altria, after a failed investment in Juul, the hot story is its purchase of NJOY. But don't get too excited -- here's why.Before getting into NJOY, it is worth looking a little further back. The ongoing decline in cigarette demand is not new, so Altria has known for years that it needs to find a replacement product if it hopes to grow over the long term. Bridging the gap between cigarettes and some hoped-for alternative have been price increases, which have largely countered the volume declines.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool