Altria Group stock falls 1.61% and underperforms competitors
Updated
Updated · MarketWatch · May 7
Altria Group stock falls 1.61% and underperforms competitors
7 articles · Updated · MarketWatch · May 7
Shares closed at $69.04 on Thursday, marking a fourth straight daily loss as the S&P 500 fell 0.38% and the Dow dropped 0.63%.
Altria ended 7.40% below its 52-week high of $74.56 reached on May 1, while Philip Morris rose 0.34%, Universal slipped 0.26% and Mativ gained 1.18%.
Trading volume was 8.6 million shares, about 1.2 million below Altria's 50-day average of 9.8 million, indicating lighter-than-usual investor activity during the decline.
As cigarette sales fall, can Altria's smoke-free future sustain its legendary 56-year dividend streak?
With its rival dominating the smoke-free market, is Altria's pivot to new products too little, too late?