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.