Marlboro cigarette parent Altria Group Inc. MO said it is considering expanding into non-nicotine offering, including cannabis and caffeine pouches, according to a report in The Wall Street Journal. Altria had said at its Investor Day Thursday that it targets at least 35% growth in U.S. smoke-free volumes by 2028, and to double total U.S. smoke-free revenue to $5 billion over the same time, with $2 billion coming from “innovative” smoke-free products, according to a FactSet transcript. Altria said it is looking to take its reduced-risk products overseas, and is soliciting feedback from smokers as it develops its new products, the WSJ report said. Altria’s stock fell 0.5% in premarket trading Friday, after closing Thursday at the lowest price ($43.46) since Oct. 10, 2022. It has lost 6.0% over the past three months through Thursday, while the AdvisorShares Pure US Cannabis exchange-traded fund MSOS has dropped 18.6% and the S&P 500 SPX has gained 2.7%.
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