The U.S. Food and Drug Administration (FDA) is set to announce it will ban Juul brand e-cigarettes in the country, wiping away a significant chunk of the $21.63 billion industry of which Juul owns 41%, according to the Wall Street Journal.
Shares of Altria Group Inc (NYSE:MO), which owns a 35% stake in Juul, fell more than 9% after the news was delivered.
