Big Tobacco Finally Wakes Up and Smells the Pot

Big Tobacco Finally Wakes Up and Smells the Pot

Big Tobacco is finally ready to say, pass that dutch. 

Altria Group Inc., the biggest U.S. cigarette company, is reportedly in talks to buy a stake in Aphria Inc., one of a growing number of Canadian cannabis producers that’s attracted the attention of investors this year. The discussions were reported by the Globe & Mail on Wednesday, sending Aphria’s stock soaring 12 percent and giving it a market value of $3.5 billion. Altria, Aphria — it even sounds meant to be.

Not only does this signal that Big Tobacco does, in fact, plan to stake a claim to the nascent cannabis industry, it also brings legitimacy to a hot space that some feared might turn out to be a bubble. With Altria seemingly in the game, two things are now clear: The cannabis industry is real, and the same major companies that dominate our consumer vices and fads now plan to do so in the future. Cigarettes, booze, energy drinks, kombucha — cannabis will be as normal as any of them. See more...

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