After two costly vaping acquisitions (JUUL & NJOY), Altria shares are down 3% following the first ever authorization of non tobacco, non menthol flavored vapes. This once again raises questions around management's capital allocation in JUUL Virginia Tobacco 5% Delivered Near You Saucey Altria Swaps Juul Stake Once Worth $12.8 Billion for Some Vaping IP Bloomberg Juul Raises $650 Million in Funding That Values E Cig Startup at $15 Billion WSJ