Investors are happy with the company’s progress diversifying away from tobacco and nicotine.

What happened
Shareholders of tobacco giant British American Tobacco (NYSE:BTI) had to be happy with the month of March, as shares gained 11.6% in the period, according to data provided by S&P Global Market Intelligence. That exceeds the approximately 9% returns for the entire past 12 months. Some of what investors like is the progress BAT is showing in diversifying from its traditional tobacco and nicotine products.

So what
In mid-February, when the company reported its fiscal 2020 results, BAT updated investors on several aspects of its “new categories” segment. Its Vuse vapor revenue grew 85%, for example. But developments with its moves into cannabis-related products is what investors seem to be cheering the most.

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Howard Smith – The Motley Fool – 2021-04-08.

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