The head shop—which, yes, offers a fine collection of pipes and other tobacco-smoking products too—doesn't stock the widest selection of cigarettes in town, but man, is their selection ...

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So why does BTI trade at only 8 times free cash flow? The first reason is the ESG movement, which prohibits large institutional investors from buying tobacco stocks, no matter how cheap they may seem.

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Then, in 2022, Philip Morris won a $16 billion battle for Swedish Match as part of its ambition to become a global champion of smoke-free tobacco products ... The stock is also cheap, trading ...

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