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Sunday, July 3, 2022

RLX Technology Inc. (RLX) stock surged in the Pre-market; here is why?

RLX Technology Inc. (RLX) stock gained in the pre-market with no news, but the company had announced managerial changes a couple of days ago. RLX stock values at $2.07, gaining more than 10% from the previous close. RLX stock previously closed at $1.87 with a trading volume of around 25.08 million shares.


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Global Tobacco Industry Overview

RLX Technology Inc. (RLX) is a company involved in the tobacco business and is an e-vapor company in China. The global tobacco industry depends on many variables such as consumer buying power, economic growth, and population growth. The tobacco plant is dried and then fermented to be used in the tobacco products. The main ingredient in tobacco is nicotine, which is the primary substance that could lead to its addiction and further usage.

According to the previous date, the global tobacco industry was worth around $729 billion. By 2026, it is expected to grow at a compound annual growth of 3.78% to reach $908 billion.

But as we know, the company operates in the e-vapor segment; this segment has seen a surge since covid-19. It had a few reasons; one being a report that smokers are likely to get more infected by the coronavirus. Secondly, many people want to choose a healthy lifestyle and intend to quit smoking. They see it as an alternative, which is why e-vapor saw a boom. The global E-cigarette and vape market size was worth around $18 billion in 2021 and is expected to reach $22.4 billion in 2022.

RLX: Managerial Changes

RLX Technology Inc. (RLX) recently stated that Ms. Ying (Kate) Wang has quit as a member and chairwoman of the remuneration committee and the nominating and organizational governance committee of the Company’s board of directors. The Remuneration and Nominating Committees will now be free, with Ms. Zhenjing Zhu and Mr. Youmin Xi as members. Mr. Youmin Xi was named chairman of the Nominating Committee and chairperson of the Remuneration Committee concurrently with Ms. Ying (Kate) Wang’s departure.

Conclusion

The growing e-vapor industry could be very beneficial for the company. E-vapor trend is increasing day by day. If the company rightly markets its product to its target audience, it could increase its dominance in the e-vapor industry in China.

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