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Juul reduces the estimate to $ 10 billion

Juul Labs lowered its estimate to about $ 10 billion from $ 38 billion two years ago when tobacco giant Altria Group Inc. took a 35% stake, the company said Thursday.

Once one of the country’s most valuable start-ups, Juul has been plagued for the past two years by regulatory crackdowns, lawsuits and investigations into whether it launched its products to teenagers. Sales and market share fell. Last month, the company said it was cutting more than half of its workforce and was considering withdrawing …

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