A standard piece of office furniture before 2000 was an ashtray. All the companies which make cubicles added ashtrays as smoking was permitted in the workplace. Over the past 20 years plus, things have changed or cigarette companies increasingly depended on markets outside the US. Technology improves many things and along came vaping. This was seen to be a better alternative than smoking and vaping companies increased in value. Among the bigger companies Altria bought Juul and all was good for the cigarette company.

Cigarette companies are in a highly regulated market and the FDA or US Food and Drug Administration is the lead agency. A few weeks ago, the FDA stopped the sale of Juul’s vaping machines.

According to the Associted Press, Altria through Juul’s lawyers went to court to unfreeze the FDA, and present new information. The U S Federal Appeals court agreed with Altria and Juul’s sales continued. Juul’s chief regulatory officer, Joe Murilli, said we now look forward to re-engaging with the FDA on a science- and evidence-based process to pursue a marketing authorization for Juul’s products.

Linking to dividend paying stocks, there are many companies which are profitable, some of them cause social harm. As an investor, as long as the product is legal you might invest in it. There are many industries which you can invest in or same away from, as an individual you have your choice. Sometimes when examining the high margins you may choose legal or not.

There are more questions than answers, till the next time – to raising questions.