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Why is RLX Technology Inc ADR (RLX) Stock down?

We've noticed a 5.97% decline in RLX Technology Inc ADR (RLX) stock during the 2024-03-26 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
30 May, 2023:

RLX's stock fell 10.89% related to news that earnings season pressed on. Many analysts and investors have predicted a big economic rebound in China this year, but others say it's far from guaranteed. Investors are also growing concerned about a resurgence of COVID-19 cases.

https://www.fool.com/investing/2023/05/25/why-shares-of-kanzhun-rlx-technology-and-dingdong/

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