A hedge fund that owns equity in Juul Labs reportedly slashed the value of its stake by more than a third to a price that values the e-cigarette maker at $24 billion.
Darsana Capital Partners recently wrote down the value of its investment in the embroiled c-cigarette maker, the Wall Street Journal reported Friday, hinting at the toll heightened regulatory hurdles are taking on its business.
Darsana is one of a number of hedge funds that saw big gains in its Juul investment last year following its deal with global tobacco company Altria. A representative for Darsana couldn’t be reached for comment.
