Below is a note written by CEO Keith McCullough on why we're adding Altria Group (MO) to the long side of Investing Ideas today:

I've been waiting on an immediate-term #oversold signal in Altria (MO) as Howard Penney and Shayne Laidlaw just added it as a new Long Idea in our Institutional Research product. 

Here's a fun excerpt from Howard, contextualizing his history with this stock and what's changed recently:

"25 years ago, in the Spring of 1993, I was a tobacco analyst at Morgan Stanley, when Philip Morris, the maker of Marlboro cigarettes, announced a cut in the price of Marlboros to stem the brands market share losses to generic cigarettes.  MO dropped 26% that day, wiping $10 billion off its market cap, and the company’s change in strategy altered the value equation for many premium brands.  Marlboro Friday was a memorable event in my career, and I believe another Friday in late 2018 will be another significant event in the Cannabis industry.

Recently, Altria which is now the maker of Marlboro cigarettes, purchased a 45% equity position in CRON for C$2.4Bour only Best Idea LONG in the Cannabis Industry (ping us to see our 180-page Cannabis Industry deck for the details).  Given the events of last Friday (and certain nostalgia around coming back to my research roots) we are adding MO the Hedgeye Consumer Staples LONG Bias List."

With the stock down -3% today, the signal says buy some on red,

KM