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Juul's actions are once again vaping.
Private shares of the world-renowned electronic cigarette maker fell by more than one-third from last year's highs, as growing fears of government health crises and crackdowns bigger and bigger.
Several major investors in Juul are looking to sell their Juul shares at just $ 25 billion, or $ 175 per share, sources told The Post. That's down 35% from a December contract in which Altria valued Juul at $ 38 billion, or $ 270 a share, the sources said.
A spokesman for Juul declined to comment on Tuesday.
The fall has been rapid, despite the fact that the sale of the shares held by Juul usually takes a few weeks because the articles of the company require sellers to give existing shareholders a chance to match a given bid.
In August, the shares of Juul, whose number in circulation is 142 million, reached 267 dollars, according to a source.
But since then, a large number of scary headlines have followed, including reports of at least nine deaths and more than 500 suspected illnesses related to a vaping.
Earlier this month, US regulators announced plans to pull out the market for flavored electronic cigarettes – a big hit for Juul, whose mint capsules made up 75% of Juul's total sales in August, according to proprietary data. from Nielsen obtained by The Poster.
The US prosecutor in Northern California has also reportedly opened a criminal investigation into Juul, according to the Wall Street Journal.
There is now a 20% chance that a merger fully under negotiation between tobacco giants Philip Morris and Altria is not coming to fruition, Morgan Stanley said Monday, citing "adverse regulatory developments affecting the 35 % of Altria in Juul ".
Altria shares, which closed at $ 40.73 on Tuesday, are down 7% since the Food & Drug Administration announced plans to remove the aromas from the e-cigarette. Without a merger, Morgan Stanley expects Altria shares to increase by 8%.
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