Shareholders of tobacco giant British American Tobacco (NYSE: BTI) had to be happy with the month of March, as shares gained 11.6% in the period, according to data provided by S&P Global Market Intelligence. In mid-February, when the company reported its fiscal 2020 results, BAT updated investors on several aspects of its "new categories" segment. Its Vuse vapor revenue grew 85%, for example.
The stocks of several cannabis producers have more than doubled just since the start of the year, including Organigram Holdings (NASDAQ: OGI). Organigram got an added boost from news of a strategic partnership in March, helping its shares gain 14.5% in the month, according to data provided by S&P Global Market Intelligence. On March 11, news that Organigram and tobacco giant British American Tobacco (NYSE: BTI) formed a business alliance caused the stock to spike almost 40% that day.
The deal is the latest in a string of recent arrangements between companies in "traditional" sectors and marijuana businesses.