Why Altria Stock Lost 12% in 2023
While the rest of the stock market was on fire last year, Altria (NYSE: MO) was turning to ashes. Shares of the Marlboro maker fell 12%, according to data from S&P Global Market Intelligence, as its strong dividend wasn't enough to attract investors to a business model that many think is in an inevitable decline.
There was no singular piece of news that pushed Altria stock lower last year, but mostly disappointing earnings reports and a revelation by rival British American Tobacco at the end of the year led to 2023 ending in the loss column.
As you can see from the chart, Altria significantly underperformed the S&P 500.
Source Fool.com
