Why Altria Was Smoking the Market With a 10% Gain in December
After losing nearly one-fifth of its value between March and the end of November last year, Altria (NYSE: MO) began marching higher beginning Dec. 1 and hasn't looked back since.
According to data from S&P Global Market Intelligence, the tobacco giant enjoyed a one-month gain of 11.1% in December and is up another 5% so far in 2022.
There was no specific company news to account for the run up in Altria's shares, but the tobacco company was trading at a relative discount and it had reported a better-than-expected third-quarter earnings result. The end of the year could be an opportune time to buy ahead of what may be a rocky year for the stock market and as a hedge against inflation.
Source Fool.com
