Can Some tell me what made Altira Group Stock drop over 50 percent in february of 08. Symbol MO. Thanks?

Question

question says it all thank in advance

Answer 1

Due to spin off of morris international { MO}

it has much better  growth rate.

keep it for the next 2-3 yrs .

you will be a winner.

Answer 2

The spin off of Phillip Morris Int'l.(PM) from Altria (MO)

Answer 3

They spun off Phillip Morris International (PM).  If you owned Altria stock, you should have been issued shares for it.  The domestic (USA) Phillip Morris is still part of Altria.  Tuesday's price for Altria was $21.37 and Phillip Morris International was at $53.34.