Why This Tobacco Company Is Booming in 2020

Luis Sanchez CFA, The Motley Fool
·5-min read
Why This Tobacco Company Is Booming in 2020
Why This Tobacco Company Is Booming in 2020

When most investors think of tobacco companies, they think of companies like Philip Morris, but there is a smaller tobacco company that enterprising investors should familiarize themselves with called Turning Point Brands (NYSE: TPB). Turning Point is a leader in the Other Tobacco Products (OTP) category, which consists of tobacco products other than cigarettes; these include the likes of e-cigarettes, roll-your-own, and smokeless tobacco products. Despite the challenges brought on by 2020, Turning Point is having its best year ever, which is evident from the company's reported earnings.