Over the past couple of weeks, Altria (MO) has been hit with a slew of negative articles and headlines claiming that its best days are behind it. While it's no secret that cigarette smoking is on the decline here in the U.S. and has been for decades, the recent FDA announcement has some worried that lowering nicotine levels in cigarettes will expedite the demise of Big Tobacco (or at least its number one source of revenue). After researching the various possibilities, it's clear to me that while cigarette consumption may be contracting, it will be a long time before any serious impact will be felt from the feds. This gives Altria's management time to adjust accordingly and move into higher growth opportunities that will set the company up for continued success.
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