Philip Morris International Inc. Slips to 135th in Trading Volume Ranking Amid Market Shifts

On May 28, 2025, Philip Morris International Inc. (PM) experienced a significant drop in trading volume, with a total of 5.87 billion shares traded, marking a 43.93% decrease from the previous day. This decline placed PM at the 135th position in terms of trading volume for the day. The stock price of PM also decreased by 0.25%.

Prime Minister Philip Davis announced a series of VAT reductions and customs duty exemptions on essential items as part of the 2025/2026 National Budget. These changes aim to distribute the economic burden and benefits more equitably across various sectors and communities. Starting from September 1, 2025, the VAT on essential products such as baby diapers, feminine hygiene products, and prescription drugs will be reduced to 5%. Additionally, customs duties on factory cement, copper fittings, and other essential hardware will be removed. These measures are expected to have a positive impact on the local economy and potentially benefit Philip Morris International Inc. (PM) by reducing operational costs and increasing consumer spending on essential goods.

Davis also highlighted the government's commitment to environmental sustainability by introducing an environmental levy on seabeds and other fees on boating activities. This initiative aims to protect the country's natural resources and reduce emissions, which could indirectly benefit PM by fostering a more eco-friendly business environment. The government's plans to modernize and regulate the cruise sector, along with increased enforcement on VAT compliance, are expected to boost revenue and improve the overall economic outlook, potentially creating a more favorable environment for PM's operations.

In his budget communication, Davis emphasized the country's strong economic performance, with GDP expanding by 3.7% in 2024 and household consumption increasing by 3.1%. The agriculture, forestry, and fishing industries also contributed significantly to this growth, expanding by 21%. These positive economic indicators suggest a stable and growing market for PM's products, which could support the company's financial performance in the coming years. The government's commitment to supporting hardworking Bahamians and seizing new opportunities further underscores the potential for economic growth and development, which could benefit PM's operations and stock performance.