Stock Track | Smoore Soars as Major Client Wins Approval for New Vaping Products

Stock Track07-22

Shares of Smoore International Holdings (06969), a leading vaping devices manufacturer, surged 9.12% during intraday trading on Wednesday. The stock's rally was fueled by news that R.J. Reynolds Vapor Company, a subsidiary of Smoore's major U.S. client Reynolds American Inc, received marketing approval for seven new tobacco products supplied by Smoore.

The stock hit an intraday high of HK$9.27, marking its highest level since July 2nd. Smoore's shares were the top gainers on the Hang Seng Composite Index, which slipped 0.4% on the day. The company's year-to-date gains now stand at an impressive 40%.

In a statement, Smoore expressed optimism about the development, stating, "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."

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