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If consumers had felt the need to trade out because they were under economic pressure, it gives them a space within the Marlboro franchise where they can reengageor if a consumer comes under pressure, it gives them a space to continue to engage with Marlboro. Altria Groups overall cigarette sales volume was down 11% in the first quarter

The status, date, and cause of death were tracked from 2001 to 2019

Tobacco stocks immediately reacted, with shares of Altria Group down 3.5%, British American Tobacco down 1.6% and Phillip Morris International down 2.2% on Monday morning