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RLX - RLX Gets Smoked In Fourth Quarter But Sees Clearer Air Ahead
RLX Technology Inc. American Depositary Shares each representing the right to receive one (1) Class A
2023-03-13 05:28:00 ET
Summary
RLX’s revenue plunged 82% in the fourth quarter, capping a year when it was hit by a steady stream of new regulation and a 37% excise tax.
The vaping company’s stock trades at a premium to its peers, as analysts see its situation stabilizing and revenue declines moderating this year.
The company could well be set for a strong rebound in the year ahead now that the regulatory air is finally clear and Covid restrictions are in the past, even if it still faces a long road to return to its previous size.