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Investing.com -- Tobacco stocks showed mixed movements Thursday after the Wall Street Journal reported that the Food and Drug Administration (FDA) has authorized Juul Labs’ e-cigarettes to remain on the U.S. market.
Altria Group (NYSE:MO) rose 0.1%, while Philip Morris International (NYSE:PM) pared its decline to 0.5% and British American Tobacco (NYSE:BTI) trimmed its drop to 0.3% following the news.
According to people familiar with the matter, the FDA has approved Juul’s original vaporizer along with refill cartridges in tobacco and menthol flavors. This decision comes five years after Juul initially submitted its products for federal review and represents a significant reversal from the agency’s 2022 ban that pushed the once-dominant vaping company to the brink of bankruptcy.
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