RLX Technology stock sank as much as 45% on Monday after a report out of Reuters said the Chinese government is looking to increase regulations on e-cigarette manufacturers. Shares of RLX are down over 60% since the company raised $1.4 billion in its January IPO.
Why did RLX technology stock fall today?
Shares of RLX Technology (NYSE: RLX) were falling sharply today after the Chinese vaping company posted fourth-quarter earnings results this morning. Ongoing tensions around vaping regulations in China and broader fears about Chinese stocks seemed to be the primary reasons for the sell-off today.
Is RLX bouncing back after the Chinese stocks pullback?
After a day of brutal sell-offs yesterday, RLX is benefiting from some rebound momentum. Chinese stocks got hit with their worst daily pullback since 2008 on Monday, but some companies in the category are bouncing back in today's trading. Image source: Getty Images.
Where can I buy RLX shares?
Shares of RLX can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here.
What is RLX technology's short-interest ratio?
Based on an average trading volume of 12,910,000 shares, the short-interest ratio is currently 2.8 days. Approximately 5.3% of the company's shares are short sold. View RLX Technology's Short Interest.
Is RLX stock a good buy?
RLX Technology has received a consensus rating of Buy. The company's average rating score is 2.50, and is based on 1 buy rating, 1 hold rating, and no sell ratings.
Who owns RLX technology?
RLX Technology Inc. is currently 100% owned by Relx Inc.
What does RLX technology do?
RLX Technology Inc. operates as an e-vapor company. The Company offers product development, research, supply chain management, and offline distribution services.
Where is RLX technology based?
RLX Technologies was a computer company based in The Woodlands, Texas.
Will RLX go up?
The 4 analysts offering 12-month price forecasts for RLX Technology Inc have a median target of 3.49, with a high estimate of 14.92 and a low estimate of 1.42. The median estimate represents a +57.21% increase from the last price of 2.22.
Is RLX Technology a buy right now?
2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for RLX Technology in the last twelve months. There are currently 1 hold ratin...
When is RLX Technology's next earnings date?
RLX Technology is scheduled to release its next quarterly earnings announcement on Friday, August 19th 2022. View our earnings forecast for RLX Te...
How were RLX Technology's earnings last quarter?
RLX Technology Inc. (NYSE:RLX) posted its quarterly earnings data on Friday, March, 11th. The company reported $0.06 earnings per share (EPS) for t...
What price target have analysts set for RLX?
2 Wall Street analysts have issued 1-year target prices for RLX Technology's stock. Their forecasts range from $6.00 to $6.00. On average, they exp...
Who are RLX Technology's key executives?
RLX Technology's management team includes the following people: Ms. Wang Ying , Co-founder, Chairperson of the Board of Directors & CEO (Age 40)...
Who are some of RLX Technology's key competitors?
Some companies that are related to RLX Technology include Vector Group (VGR) , 22nd Century Group (XXII) , BOTS (BTZI) , Electronic Cigarettes...
When did RLX Technology IPO?
(RLX) raised $1 billion in an initial public offering on Thursday, January 21st 2021. The company issued 116,500,000 shares at $8.00-$10.00 per sha...
What is RLX Technology's stock symbol?
RLX Technology trades on the New York Stock Exchange (NYSE) under the ticker symbol "RLX."
Who are RLX Technology's major shareholders?
RLX Technology's stock is owned by many different retail and institutional investors. Top institutional shareholders include BlackRock Inc. (1.82%)...
About RLX Technology
RLX Technology Inc., together with its subsidiaries, researchers, develops, manufactures, distributes, and sells e-vapor products in the People's Republic of China. It serves RELX branded partner stores and other retail outlets through distributors. The company was founded in 2018 and is based in Beijing, China. RLX Technology Inc.
RLX Technology (NYSE:RLX) Frequently Asked Questions
3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for RLX Technology in the last twelve months. There are currently 1 hold rating and 2 buy ratings for the stock.
The Chinese vaping specialist reports first-quarter results as regulatory fears linger
Evan is a Senior Technology Analyst at The Motley Fool. He was previously a Senior Trading Specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
What happened
Shares of RLX Technology ( NYSE:RLX) sank by as much as 10% today after the company reported first-quarter earnings. As of 11:30 a.m. EDT, the stock was still down 8%.
So what
Revenue in the first quarter increased 48% to $366.1 million, which resulted in adjusted net income of $93.2 million, or $0.06 per American depositary share (ADS). The Chinese consumer discretionary company, which sells vaping products in China, attributed the growth to higher sales to offline distributors.
Now what
Guidance for the second quarter calls for revenue of at least 2.85 billion yuan ($446.6 million based on current exchange rates) and adjusted net income of 720 million yuan ($112.8 million based on current exchange rates). Gross margin is expected to "remain steady."
About RLX Technology
RLX Technology Inc. (RLX) is the leading brand of e-vapors products in the People’s Republic of China.RLX operating areas include research, development, manufacturing, and distribution of e-vapors products in China. RLX Technology is founded in 2018 and headquartered in Beijing, China.
Conclusion
The recent news about the governing laws for the sale of e-cigarettes and other tobacco products has added pain to the RLX stock as RLX Technology stock fell more than 41.11% in Monday’s current market session.
