AFood and Drug Administration crackdown on e-cigarettes could be a boost for big tobacco, Piper Jaffray’s Michael Lavery told CNBC on Thursday.
There is “directionally, no question” these companies would benefit, Lavery said in a “Closing Bell” interview.
“If a crackdown reduces the number of smokers switching to e-cigs, it would likely be bad for public health but financially a benefit for public tobacco companies,” he later wrote in an email…
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