BUZZ-Smoore jumps as client gets greenlight for marketing tobacco products
Shares of vaping devices maker Smoore International Holdingssurged 8.4% after its client, Reynolds American Inc, received marketing approval for seven new tobacco products. Smoore sees this as a positive development and expects it to guide its resource allocation in the US market. The stock is up 40% year-to-date.
Shares of vaping devices maker Smoore International Holdings (6969.HK) jump 8.4% to HK$9.27, highest since July 2
Stock on course for the biggest one day gain since June 14; top pct gainer on Hang Seng Composite Index (.HSCI) which slips 0.4%
Smoore says R.J. Reynolds Vapor Company, a unit of its U.S. client Reynolds American Inc (RJR Group), received marketing granted orders for seven new tobacco products; co supplies the seven products to RJR Group
“The company is encouraged by the success of its clients in their PMTA (Premarket Tobacco Product Application) applications and believes that this will provide clearer guidance to the group as to where to better deploy its resources for the US market” - Smoore
Hang Seng Commerce & Industry Index (.HSNC) and Hang Seng Index (.HSI) ease 0.3% and 0.5%, respectively
Stock up 40% YTD
