RLX Technology (RLX) Stock Surges with Strong Institutional Support

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Oct 28, 2024
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Recently, RLX Technology (RLX, Financial) saw its stock price surge by 5.58%, reaching $1.70 per share, with a trading volume of 1.82 million shares and a turnover rate of 0.14%. The stock experienced a price fluctuation of 4.04%.

Financial reports highlight RLX Technology's solid performance, with $77.13 million in revenue and a net profit of $18.27 million, resulting in earnings per share of $0.01 and a gross profit of $21.80 million. The company's price-to-earnings ratio is 24.67. All five institutions reviewing RLX Technology have recommended buying, with no hold or sell ratings.

In the broader tobacco industry, the average stock increase was 0.42%. Notable movers included Greenlane Holdings, Inc., Turning Point Brands, Inc., and RLX Technology, which showed significant gains. Among these, Greenlane Holdings, Inc. showcased extraordinary activity with a turnover rate of 7380.86%, while Kaival Brands Innovations Group, Inc. reported a 161.11% price fluctuation.

RLX Technology specializes in manufacturing e-cigarette products for adult smokers, operating an integrated offline distribution system tailored to the Chinese market with its unique "brand franchise+" retail model.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.