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";s:4:"text";s:9778:"Your browser will redirect to your requested content shortly. Altria paid $1.8 billion for a 45 percent stake in Cronos Group, a publicly traded company based in Canada, where marijuana is federally legal. Parnas did point out that the vaporizer devices the company is attempting to patent are plant “agnostic”—and could be used to vaporize anything, such as loose-leaf tobacco, even if the device descriptions specifically mentions cannabis, as is the case in Altria’s most recent patent applications. This process is automatic. Other efforts to create successful national cannabis brands—such as Chong’s Choice, branded marijuana flower bearing comedian Tommy Chong’s image; Ignite, an inchoate combination of CBD, cannabis flower, and other products founded by Instagram playboy Dan Bilzerian; or Marley Natural, a cannabis company that licenses Bob Marley’s name and image—have struggled to resonate with consumers. Despite Altria’s insistence that the devices are “plant agnostic,” both patent applications repeatedly reference cannabis. And both companies still aren’t sure if cannabis consumers will gravitate towards products peddled by Big Marijuana. Summary. Altria: A Good Defensive Bet Right Now? Vaporizer giant JUUL—in which Altria also invested around the same time as its cannabis buy, paying $12.8 billion for a 35 percent stake—filed such an FDA application for its products earlier this summer. Altria declined to answer further questions via email. When the business picks up, …, For Immediate Release Chicago, IL – October 9, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. J&J Halts Covid-19 Vaccine Trial Due to Unexplained Illness, Apple IPhone 12 5G Line Wins Praise for Lower Prices, New Sizes, Investors Turn Skeptical of U.S. Democrat ‘Blue Wave’ Victory, Stocks Drop on Stimulus Deadlock as Banks Tumble: Markets Wrap, Trump Tests Negative; More Shutdowns in Europe: Virus Update. Altria Group, Inc. (Altria) (NYSE: MO) today announces its 2020 second-quarter and first-half business results. Shareholder Trinity Health, represented by Sister Nora Nash, argued in a proposal that Altria and Juul’s lack of disclosures about lobbying “could pose reputational risks.”. Companies and trade groups are weighing the risks of fighting a proposed ban on most flavored vaping products, to protect mint and menthol varieties. Part of the reason why big business models don’t translate despite their many billions is current U.S. federal law. Based on the quarterly dividend of 84 cents that Altria paid on Oct. 10, a 5% hike from the previous distribution, the stock offers a forward dividend yield of 6.88% and a trailing 12-month dividend yield of In the meantime, the value of Altria’s cannabis investment has suffered just like most other cannabis investors’ positions, losing roughly one-third of its value. Find the latest news headlines from Altria Group, Inc. (MO) at Nasdaq.com. Forbes - Trefis Team. Altria, the maker of Marlboro cigarettes, recently invested almost $13 billion in e-cigarette company Juul. In late February of this year, Altria, the parent company of cigarette brands including Marlboro and Parliament, filed two patent applications for vaporizer devices specifically designed for cannabis, according to United States Patent and Trademark Office filings. One device will heat a “capsule” filled with cannabis. The other initiative was from the Sisters of St. Francis of Philadelphia, which argued that the level of underage use of nicotine products is unacceptable and that Altria should disclose more about its activities to reduce it. The two best-known cannabinoids in marijuana—both of which have specific medical applications, according to recent research—also have different release points. He also suggested that the devices are not coming to market any time soon. 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