Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Tuesday, March 5th. I'm Julie Morgan.

Philip Morris is facing a lawsuit over Zen,

but it was Altria that took the hit.

Elon Musk has been dethroned and the Real Real

is doing really well since reporting earnings last week.

Shares of Altrier were under pressure on Monday as a nicotine substitute from rival Philip Morris International was accused of being addictive and harmful to young people.

Although the lawsuit named Philip Morris's Zen, Altria shares were taking the brunt of the negative

reaction to the lawsuit.

Altria has a portfolio of both smoke-free and tobacco products.

The lawsuit alleges that Philip Morris' Zen nicotine pouch contains more nicotine than cigarettes, causes gum disease,

cognitive issues, cardiovascular injuries, and gastrointestinal problems,

and is more addictive than traditional nicotine products.

According to Bloomberg, the lawsuit also includes Swedish match as a defendant.

Swedish match was the original manufacturer of Zen pouches and was acquired by a Philip Morris affiliate for $16 billion in 2022.

Along with Vape products, Zen was marketed by Philip Morris International as part of its smoke-free future campaign.

Philip Morris closed Monday 0.53% higher.

Altria closed down 2.77%.

Tesla CEO Elon Musk has been dethroned as the world's richest person.

Amazon founder Jeff Bezos is now in that top spot after Tesla slumped 7.2% on Monday as

shipments from his Shanghai factory dropped to their lowest in over a year

impacted by the Chinese New Year holiday. According to China's passenger year from the factory in February, down 19% year over year.

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