15% Downside Risk As Altria Navigates JUUL Headlines
Altria faces potential downside risk of 15% from current levels to $40, which represents an important support level for shares. As NY announces a comprehensive lawsuit against JUUL for targeting teenagers with their nicotine vapor pods, Altria will bear the brunt of the downside. The stock has been in a clear downtrend since 2017 and that trend should continue. A $40 price objective also coincides with the 423.6% fibonacci extension level of Altria's 1998 high and 2000 low.