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I believe 22x is an upper bound multiple for the stock, but as I said above, even without multiple expansion SWMA can deliver 16.5% CAGR total shareholder return

The CDC reports that 21.5 percent of adult Alaskans light up ( CDC's Tobacco Control State Highlights 2010 )

And then you look into the future to see whats going to happen next

New research in lab models indicates that low doses of carbon monoxide comparable to that experienced by smokers protected against neurodegeneration and prevented the accumulation of a key Parkinsons-associated protein in the brain

03/03/2025 Appearance Draw Burn Aroma Taste Firm construction, open draw, mostly even burn with only a couple of minor touchups needed