Why Turning Point Brands Stock Got Smoked Today

Wednesday was not a good day to be a tobacco stock investor. A report from a major news agency indicated that certain products that were supposed to be fast-tracked by a regulator might just be stuck in the slow lane for longer. With that, many tobacco company shareholders unloaded their holdings. This included Turning Point Brands (NYSE: TPB), which fell by over 14% that trading session.Early that morning, Reuters published an article stating that scientists at the Food and Drug Administration (FDA) are hesitant to authorize oral nicotine products, such as pouches, currently awaiting the regulator's approval. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool