5 Chinese Stocks at Risk as Orders Drop

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1. RLX Technology Inc. (NYSE:RLX)

Number of Hedge Fund Holders: 9    

RLX Technology Inc. (NYSE:RLX) makes and sells e-vapor products. It is based in Beijing. The company went public in the US in early 2021 and raised over $1.4 billion at an initial offering, valuing the firm at over $46 billion on the first day of trading. Since then, amid tightening regulations in China and the US, as well as consumer pressures due to slowing demand, the market capitalization of the company has dropped down to just a little over $2 billion. The firm recently received a License for Manufacturing Enterprise from the State Tobacco Monopoly Administration in China. 

RLX Technology Inc. (NYSE:RLX) posted earnings for the first quarter of 2022 on May 20, reporting earnings per share of $0.044 and a revenue of more than $270 million, down close to 26% compared to the revenue over the same period last year. 

At the end of the second quarter of 2022, 9 hedge funds in the database of Insider Monkey held stakes worth $106 million in RLX Technology Inc. (NYSE:RLX), compared to 10 the preceding quarter worth $82 million.

You can also take a peek at 10 Stocks Reddit’s WallStreetBets is Buying in July 2021 and Top Robinhood Stocks Popular on Reddit.

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