The company’s stock was tracking for a record close and clinched a fresh intraday record.
Shares of the Connecticut-based company jumped above $130 at session highs, marking a new intraday record. The stock is also tracking to notch an all-time closing high and see its biggest one-day gain since March 2020.Tuesday's pop comes after the company touted an eye-popping jump in shipments of its Zyn oral nicotine pouches. It's the latest milestone in the stock's breakout this year as Wall Street catches wind of how the product has captured consumer interest.
Zyn demand in the U.S. has primarily driven shipments of Philip Morris' oral products up nearly 40% in the first nine months of 2024, compared with the same period of the prior year.
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