BAT Stock Drops 1.2% Ending Six-Day Rally

BAT by 2FIRSTS.ai

Jan.10.2024

BAT Stock Drops 1.2% Ending Six-Day Rally

BAT stock ends six-day rising streak, decreasing by 1.2% to $30.20. Despite recent gains, overall stock dropped 24% in past year.

According to a report from Seekingalpha, the share price of British American Tobacco (BAT) ended its six-day upward trend on January 9th, experiencing a 1.2% drop during afternoon trading and closing at a price of $30.20.

The company's stock price has risen by approximately 4.3% over the past six trading days. However, overall, the company's stock price has dropped by 24% in the past year, contrasting with the broader S&P 500 index which has seen a 22% increase. On January 8th, the company's shares closed at $30.57, marking a 0.9% increase. For British American Tobacco, the performance in December was mixed, with 11 trading days showing an increase and 9 trading days experiencing a decline.

Among the analysts on Wall Street, three have strongly recommended buying stocks of BAT, while one has given a buy recommendation. One analyst has suggested holding the stock, while no one has recommended selling or strongly selling it.

Earlier last month, the company made a $31.5 billion write-down on the value of its American cigarette brands, which sent shockwaves through the investor community. While some analysts view this as a buying opportunity, analysis reveals concerns among people regarding potential additional expenses that other tobacco companies might incur as a result of BAT's recent write-down.

References:

[1] British American Tobacco set to snap six sessions of gains (NYSE:BTI)

Also Read:

[1] BAT to Launch Glo Hyper Air WINNER Edition, Priced at 40,000 Korean Won

[2] BATN Pays $110 Million Fine to Nigerian Government

[3] BAT Committed to Complying with Nigerian Law with $110 million Fine

[4] VUSE Sets Up First E-cigarette Experience Zone in Macedonia

#North America #United States #Traditional tobacco #Market #British American Tobacco (BAT)

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