Why British American Tobacco Stock Was Heating Up Today

Shares of British American Tobacco (BTI 6.77%), the owner of cigarette brands Camel and Newport, were moving higher today after the company delivered solid end-of-year results and an encouraging outlook for 2024.As a result, the stock was up 7.4% as of 12:50 p.m. ET. British American redeems itselfShares of British American Tobacco had plunged back in December when the company took a write-down of roughly $31 billion in its U.S. tobacco brands to account for a faster-than-expected decline in sales and its f ...