Altria Group shares slip 3.60% and underperform market and rivals
Updated
Updated · MarketWatch · May 6
Altria Group shares slip 3.60% and underperform market and rivals
6 articles · Updated · MarketWatch · May 6
The stock closed at $70.17 on Wednesday as the S&P 500 rose 1.46% to 7,365.12 and the Dow gained 1.24% to 49,910.59.
It was Altria's third straight daily loss and left the shares 5.89% below their 52-week high of $74.56 reached on 1 May.
Among peers, Philip Morris rose 0.63%, Universal fell 0.33% and Mativ gained 1.64%, while Altria trading volume reached 11.0 million, above its 50-day average of 9.7 million.
With its smokeless future stalled by regulators, is Altria becoming a value trap for income investors?
Can Marlboro's profits single-handedly save Altria as its pivot away from cigarettes continues to falter?