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MO’s stock has declined 9.4% since hitting its peak of $52.38 on April 16 on the rumors that the Biden administration may introduce tougher tobacco-company regulations. However, thanks to its diversified portfolio, the stock is expected to rebound in the coming months.
So, we think the price dip has created a perfect buying opportunity for investors. Furthermore, MO has authorized a $2 billion share repurchase program, which is expected to be completed by June 30, 2022.
