March 14, 2024, 8:39 pm EDT
Making tobacco is not something new. However, Altria Group (MO) could be worth attention as an investment.
Its 73 Billion market cap offers stability when the economy turns sour. Our view is relatively cautious at this moment even though the stock markets are at the record high level.
Geopolitical uncertainty, comeback inflation, weaker job markets, and sensitive consumers are going to test how the stock market will work for 2024. Thus, selecting consumer staples giants like MO could be a choice.
Some investors began to pay attention to MO as its stock surged for the past 7 trading days. In addition, it successfully broke out to the upside after about a 4-month convergence base as shown.
We believe any minor pullback offers an ideal entry point to own MO.
Furthermore, MO gave about 8-9% dividends as it just announced a $0.98 dividend in the late February.
