Why Altria’s Stock Fell 16.8% in 2020

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Shares of Altria (NYSE: MO) were down 16.8% in 2020 despite the coronavirus pandemic forcing everyone to stay at home for large swaths of the year when they theoretically could have smoked more.

While the COVID-19 outbreak did lead to better industry performance, resulting in Altria revising its full-year forecast for fiscal 2021 to see volumes fall just 1.5% compared to its prior estimate of a 2% to 3.5% decline, it still means the industry is continuing its secular contraction.

Image source: Getty Images.

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