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Altria Cuts Juul Valuation to Below $5 Billion

Altria Cuts Juul Valuation to Below $5 Billion

Altria Group Inc. slashed the value of its investment in Juul Labs Inc., estimating the e-cigarette maker is worth less than $5 billion, or half as mu

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Altria Group Inc. slashed the value of its investment in Juul Labs Inc., estimating the e-cigarette maker is worth less than $5 billion, or half as much as Juul says it is now worth.

Juul told employees Thursday it had cut its own internal valuation to $10 billion, down from $13 billion earlier this year.

Either estimate is a sharp decline…

This post first appeared on wsj.com

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