Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of cigarette manufacturer Vector Group
So what: The news out today from Vector is regarding the company's private placement of $90 million of its 11% senior secured notes. However, it's hard to believe that's what's driving the stock down. While it's not ideal that the company is raising money at that high of a rate while we're in such a low-rate environment, the company had already told investors this was coming earlier in the week. Additionally, cigarette manufacturers are no strangers to leverage -- others like Altria
Now what: Fellow cigarette-industry player Schweitzer-Mauduit
Want to keep up to date on Vector? Add it to your watchlist.