It's not often the Supreme Court has such an effect on stocks, but Monday's ruling in favor of the tobacco industry at the expense of the Justice Department just left a bunch of tobacco companies off the hook to the tune of a few hundred billion dollars. That has shares in the industry smoking -- but not all tobacco stocks are created equal.
Litigation risks abound, naturally, which is a big part of why these stocks look so cash-rich and relatively cheap. And then, of course, there's the moral quandary of investing in any company that makes an addictive, high-margin product...that also tends to kill its consumers.
For more on tobacco stocks, see DailyFinance's Nikhil Hutheesing and Dan Burrows tackle the bull and bear cases for British American Tobacco (BTI), Reynolds American (RAI) and Altria (MO) in this video.
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