Last month, the Trump administration announced an upcoming nationwide ban of flavored e-cigs and vape pods following an FDA crackdown on Juul Labs and an outbreak of lung illnesses induced by the electronic nicotine delivery systems. In the aftermath, tobacco firms with business interests in these products plunged, but have since rallied through October. The ban has not taken effect yet and the White House continues to deliberate on the exact extent of its restrictions, but tobaccos majors like Altria (who has a 35% stake in Juul) and Phillip Morris, who saw electronic alternatives to cigarettes as a new line of business, have already begun a pivot to heated tobacco devices as the writing on the wall seems to be very negative for vaping in the near-term.

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