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
