Why RLX Technology Stock Was Falling Today
Shares of RLX Technology (NYSE: RLX) were sliding today after the Chinese e-cigarette company posted disappointing results in its third-quarter earnings report and as investors reacted to news that Didi Global would delist itself from the New York Stock Exchange following a blockbuster initial public offering (IPO) earlier this year. As of 11:57 a.m. ET, RLX Technology stock was down 16.3%. RLX reported a 34% decline in revenue to $260.2 million as the Chinese government continues to crack down on vaping.
