Home Top Movers RLX Technology (RLX) Stock Is Climbing Gradually In Premarket Today. Reason?

RLX Technology (RLX) Stock Is Climbing Gradually In Premarket Today. Reason?

As the premarket begins to unfold, the stock price of China-based e-vapor leader RLX Technology Inc. (NYSE: RLX) is steadily increasing. RLX stock was up 3.72 percent or $0.69 at $19.25 at the time of this writing. Yesterday, the RLX Technology stock closed at $18.56 after rising +2.77%.

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Improved investor sentiment following the news of RLX’s results expected to be released this month contributed to the surge in RLX stock price today. However, that sentiment has increased as a result of developments made recently by RLX, other than anticipation of positive results in the first post-IPO results.


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Recent developments:

To develop superior e-vapor products, RLX Technology leverages its in-house technology and product development capabilities and a thorough understanding of smokers’ needs. A customized “branded store plus” retail model that is tailored to China’s e-vapor market is how RLX Technology sells its products.

  • It was announced yesterday by RLX that it will release its unaudited quarterly and fiscal-year 2020 results before the U.S. markets open on Friday, March 26, 2021.
  • A conference call will be hosted by the RLX’s management at 8:00 A.M. EST on that day.
  • In a research note released on Friday, March 12, 2021, Citigroup initiated its ratings on the RLX Technology Stock with a “Buy” rating, assigning a $20 price target.
  • The RLX Technology stock was rated “Buy” and analysts have set a price target of $30 for the RLX Technology stock in a note dated February 22 when they started covering the stock.
  • Data compiled by Bloomberg revealed that the $1.6B IPO of RLX Technology (RLX) was the largest U.S. IPO by a Chinese company so far this year.

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