Capital, Earnings & M&A
E-cigarettes, stripped of their 'sugar coating'
Overnight, a message spread rapidly through the private channels of e-cigarette stores: 'After May 1st, only tobacco flavor will be available, so stock up while you can.' The shockwaves extended beyond social media, as RLX Technology, the parent company of RELX, saw its stock plummet over 36% despite reporting strong 2021 results with revenue up 123.1% year-on-year and gross profit up 140.4%. This follows the release of the 'Second Draft for Comments on E-cigarettes' by regulators, which explicitly states that 'aerosol should not present product characteristic flavors other than tobacco.'
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