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<ul class="summary-list"><li><keyword id="10975317" type="UNKNOWN" weightage="60" keywordseo="rlx-technology-stock">RLX Technology stock</keyword> sank as much as 45% on Monday before mounting a mild recovery.</li><li>The stock fell after Chinese regulators said they will be adding restrictions to e-cigarette sales.</li><li><keyword id="10975316" type="UNKNOWN" weightage="60" keywordseo="rlx-technology">RLX Technology</keyword> went public in a $1.4 billion IPO in January.</li></ul><p><a href="https://markets.businessinsider.com/stocks/rlx-stock">RLX Technology</a> stock sank as much as 45% on Monday after a report out of Reuters said the <keyword id="71798" type="ORGANIZATION" weightage="60" keywordseo="Chinese-government">Chinese government</keyword> is looking to increase regulations on e-cigarette manufacturers.</p><p>Shares of <keyword id="368228" type="COMPANY" weightage="60" keywordseo="RLX">RLX</keyword> are down over 60% since the company raised $1.4 billion in its January IPO. </p><p>On Monday, The Ministry of Industry and Information Technology (MIIT) and China's State Tobacco Monopoly Administration posted draft regulations online that are set to clarify and enhance existing e-cigarette laws.</p><p>According to <a href="https://www.globaltimes.cn/page/202103/1219085.shtml">reports from the Global Times</a>, a newspaper owned by the Chinese Communist Party's People's Daily newspaper, a clause called Article 65 will be added to the Detailed Rules for the Implementation of the Tobacco Patent Sales Law of China.</p><p>The clause will help the State Tobacco Monopoly Administration step up its <keyword id="163506" type="ORGANIZATION" weightage="60" keywordseo="regulation">regulation</keyword> of e-cigarette manufacturers and build a new "market supervision mechanism" for the industry. Regulators are soliciting public opinions on the revision until April 22, per the Global Times.</p><p>The move towards increased regulation of <keyword id="141209" type="PERSON" weightage="60" keywordseo="e-cigarettes">e-cigarettes</keyword> comes after a November 2019 decision by Chinese regulators to forbid e-commerce platforms from selling e-cigarette products.</p><p>Despite the tightening regulations, RLX Technology posted revenues of $324 million and net income of $16 million for the nine months that ended September 30, 2020. The figures surpassed the company's full-year 2019 top and bottom-line results, according to the <a href="https://sec.report/Document/0001047469-20-005751/">company's latest SEC filings</a>. </p><p>RLX Technology was able to boost revenues due to the intense demand for its products in China. </p><p>According to the <a href="https://www.who.int/china/health-topics/tobacco#:~:text=Tobacco%20in%20China&amp;text=There%20are%20more%20than%20300,world%20is%20smoked%20in%20China.ina.">World Health Organization</a>, there are more than 300 million smokers in China and the country accounts for nearly a third of the world's total smoking population.</p><p>Cigarette sales also generated 5.45% of China's overall tax revenue in 2018, <a href="https://www.reuters.com/article/china-tobacco/update-1-china-mulls-bringing-e-cigarette-regulation-in-line-with-traditional-tobacco-products-idUSL1N2LK0IQ">per Reuters</a>. And <a href="https://daxueconsulting.com/vape-market-in-china/">data from Daxue Consulting</a> shows e-cigarette sales are expected to more than double by the end of 2022.</p><p>RLX stock traded down 44.44% as of 11:22 a.m ET on Monday.</p><div type="image" title="RLX chart 2" height="713" width="831" msid="81636393" hostid="261"></div>

RLX Technology stock sinks 45% after report says Chinese government will increase e-cigarette regulation

<ul class="summary-list"><li><keyword id="6383278" type="PERSON" weightage="60" keywordseo="didi">Didi</keyword> is vying for <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword>'s worst US <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword> this year as its stock has lost more than half its value.</li><li>Not long ago, Didi was eyeing a $70 billion valuation. Less than a month from its debut, it is now worth less than $40 billion.</li><li>Didi has been spared the title of worst IPO this year by RLX Technology, a vaping company that has fallen 78%. </li></ul><p><a href="https://markets.businessinsider.com/stocks/didi-stock">Didi</a> is vying for China's worst US IPO this year as the besieged ride hailing company's stock has lost more than half its value.</p><p>Compared to the market open price on the day of its IPO, Didi has crashed as much as 52.1% on Friday. The company's IPO listing price was $14, but the stock opened at $16.65 on its first day of trading. It now sits around $8, having fallen 31% this week alone.</p><p>Not long ago, <a href="https://markets.businessinsider.com/news/stocks/didi-ipo-us-china-uber-ride-hail-public-offering-2021-6">Didi was eyeing a $70 billion valuation</a>. Less than a month from its debut, it is now worth less than $40 billion.</p><p>That was the second-worst US listing for a Chinese company so far this year, of which there have been 37, <a href="https://www.bloomberg.com/news/articles/2021-07-22/didi-joins-china-s-worst-u-s-ipos-after-new-regulatory-pressure?srnd=markets-vp">according to Bloomberg</a>. Didi edged out <keyword id="11240755" type="COMPANY" weightage="60" keywordseo="full-truck-alliance">Full Truck Alliance</keyword>, the so-called <a href="https://www.reuters.com/technology/chinas-full-truck-alliance-targets-over-20-bln-valuation-us-ipo-2021-06-15/">Uber for trucks</a> that went public a week before Didi, which has lost 50.5% since its market open. </p><p>Both companies have been casualties of China's rapidly enveloping <keyword id="6361948" type="UNKNOWN" weightage="60" keywordseo="cybersecurity">cybersecurity</keyword> probe. They have been barred from registering new users as the cyber ministry digs into alleged data-privacy risks for Chinese users.</p><p>Still, Didi has been spared the title of worst IPO this year by RLX Technology, a vaping company that has been buffeted by <a href="https://www.reuters.com/business/healthcare-pharmaceuticals/china-mulls-bringing-e-cigarette-regulation-line-with-traditional-tobacco-2021-03-22/">planned regulations</a> to rein in China's exploding e-cigarette usage. RLX has collapsed nearly 78% and is trading at less than $5 after debuting at $22 in February and peaking at $30.</p><p>Didi was trading at $8.04 as of 1:54 p.m. ET, down 21.2% so far on Friday.</p>

Didi has fallen a stunning 52% since its US IPO as China's crackdown pummels the ride-hail giant

<ul><li><strong>2021 was a record year for IPOs, with 2,388 new companies listing their shares around the globe.</strong></li><li><strong>The red-hot <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo" source="Orion">IPO</keyword> market this year occurred amid a relentless grind higher in the broader <keyword id="11895235" type="UNKNOWN" weightage="60" keywordseo="stock-market" source="Orion">stock market</keyword>.</strong></li><li><strong>But some IPOs didn't participate in the gains. These are the 10 worst performing IPOs of 2021.</strong></li></ul><p><a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-sp500-63rd-record-close-tech-stocks-2021-11">Record highs in the stock market</a> have facilitated a boom in new company listings this year, with a record 2,388 firms going public around the globe, according to <a href="https://www.ey.com/en_gl/ipo/trends">data from Ernst and Young.</a></p><p>Helping drive a resurgence in new company listings were SPACs, which peaked in early 2021 after a surge last year. Altogether, companies have raised $453 billion in proceeds from their IPOs, representing a 67% increase relative to 2020 and a more than doubling from 2019 levels.</p><p>Firms going public have predominately been in the technology sector, and the Nasdaq Exchange captured the most IPOs relative to other global stock exchanges. <a href="https://markets.businessinsider.com/news/stocks/rivian-stock-price-ipo-debut-valuation-100-billion-ford-gm-2021-11">High profile IPOs</a> this year include electric vehicle startups <a href="https://markets.businessinsider.com/stocks/rivn-stock">Rivian</a> and <a href="https://markets.businessinsider.com/stocks/lcid-stock">Lucid Group</a>, and direct-to-consumer brands <a href="https://markets.businessinsider.com/stocks/bird-stock">Allbirds</a> and <a href="https://markets.businessinsider.com/stocks/wrby-stock">Warby Parker.</a></p><p>With more than 900 IPOs this year on US exchanges alone, there have been plenty of big losers. </p><p>These are the 10 worst performing US IPOs of 2021 of companies with at least a $1 billion market capitalization. All performance data is as of December 16 and was sourced from <a href="https://koyfin.com">Koyfin.</a> (However, the chart action shown below reflects performance based on the opening price of a stock on its first day of trades, not its IPO price.)</p><p><strong>10. Poshmark</strong></p><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/posh-stock">POSH</a></strong><br /><strong>Loss Since IPO Price: -57%</strong><br /><strong>Market Capitalization: $1.4 billion</strong></p><div type="image" title="Poshmark chart" height="497" width="631" msid="88326787" hostid="261"></div><p><strong>9. Blend Labs</strong></p><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/blnd-stock">BLND</a></strong><br /><strong>Loss Since IPO Price: -60%</strong><br /><strong>Market Capitalization: $1.7 billion</strong></p><div type="image" title="Blend stock chart" height="497" width="623" msid="88326791" hostid="261"></div><p><strong>8. InnovAge Holding</strong></p><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/innv-stock">INNV</a></strong><br /><strong>Loss Since IPO Price: -61%</strong><br /><strong>Market Capitalization: $1.1 billion</strong></p><div type="image" title="INNV stock chart" height="519" width="630" msid="88326794" hostid="261"></div><p><strong>7. Riskified</strong></p><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/rskd-stock">RSKD</a></strong><br /><strong>Loss Since IPO Price: -63%</strong><br /><strong>Market Capitalization: $1.3 billion</strong></p><div type="image" title="RSKD stock chart" height="496" width="626" msid="88326797" hostid="261"></div><p><strong>6. Missfresh Limited</strong></p><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/mf-stock">MF</a></strong><br /><strong>Loss Since IPO Price: -65%</strong><br /><strong>Market Capitalization: $1.1 billion</strong></p><div type="image" title="MF Chart" height="536" width="629" msid="88326800" hostid="261"></div><p><strong>5. loanDepot</strong></p><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/ldi-stock">LDI</a></strong><br /><strong>Loss Since IPO Price: -68%</strong><br /><strong>Market Capitalization: $1.4 billion</strong></p><div type="image" title="loanDepot chart" height="712" width="1082" msid="88326803" hostid="261"></div><p><strong>4. RLX Technology</strong></p><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/rlx-stock">RLX</a></strong><br /><strong>Loss Since IPO Price: -69%</strong><br /><strong>Market Capitalization: $5.0 billion</strong></p><div type="image" title="RLX Chart" height="533" width="627" msid="88326804" hostid="261"></div><p><strong>3. Tuya</strong></p><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/tuya-stock">TUYA</a></strong><br /><strong>Loss Since IPO Price: -70%</strong><br /><strong>Market Capitalization: $3.5 billion</strong></p><div type="image" title="Tuya Chart" height="499" width="634" msid="88326806" hostid="261"></div><p><strong>2. Oscar Health</strong></p><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/oscr-stock">OSCR</a></strong><br /><strong>Loss Since IPO Price: -78%</strong><br /><strong>Market Capitalization: $1.8 billion</strong></p><div type="image" title="OSCR stock chart" height="502" width="628" msid="88326808" hostid="261"></div><p><strong>1. Bright Health Group</strong></p><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/bhg-stock">BHG</a></strong><br /><strong>Loss Since IPO Price: -79%</strong><br /><strong>Market Capitalization: $2.4 billion</strong></p><div type="image" title="BHG Chart" height="519" width="630" msid="88326809" hostid="261"></div>

These were the 10 worst performing IPOs of 2021 amid a record year for stock market debuts

<ul class="summary-list"><li>US-listed Chinese companies must disclose potential risks of <keyword id="71798" type="ORGANIZATION" weightage="60" keywordseo="Chinese-government">Chinese government</keyword> intervention, <keyword id="6362470" type="ORGANIZATION" weightage="60" keywordseo="sec">SEC</keyword> Commissioner Allison Lee told Reuters on Monday.</li><li>Lee's comments come as scrutiny of Chinese IPOs build in the US.</li><li>Prominent Chinese IPOs such as <keyword id="6383278" type="PERSON" weightage="60" keywordseo="didi">Didi</keyword>, RLX Technologies, and Full Truck Alliance have plummeted. </li></ul><p>US-listed Chinese companies must disclose potential risks of Chinese government intervention or could be violating the law, SEC Commissioner Allison Lee said on Monday.</p><p>"Public companies must disclose significant risks which, for China-based issuers, may sometimes involve risks related to the regulatory environment and potential actions by the Chinese government," Lee said in an <a href="https://www.reuters.com/article/usa-sec-china/u-s-listed-chinese-companies-must-disclose-government-interference-risks-sec-official-idUSL4N2OZ2QW">interview with Reuters</a>.</p><p>Lee's comments come as scrutiny of Chinese IPOs build in the US. The abrupt collapse of shares in ride-hailer <a href="https://markets.businessinsider.com/stocks/didi-stock">Didi Chuxing</a> has attracted attention from politicians and regulators on the accusation that the company did not properly disclose potential risks of an imminent cybersecurity investigation.</p><p>Sen. <keyword id="905890" type="PERSON" weightage="60" keywordseo="Marco-Rubio">Marco Rubio</keyword>, for instance, has <a href="https://www.ft.com/content/b82d5307-256c-4791-9847-67ad9f6f689c">said</a> it was "reckless and irresponsible" to let an "unaccountable Chinese company" like Didi float shares on US <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>. </p><p>"Even if the stock rebounds, American investors still have no insight into the company's financial strength because the Chinese Communist party blocks US regulators from reviewing the books," he told the Financial Times earlier in July.</p><p>Didi, which had previously sought a valuation of $70 billion, has seen its prospects dimmed by China's cyber probe. It is now worth <a href="https://markets.businessinsider.com/news/stocks/didi-stock-price-us-ipo-china-cybersecurity-regulation-rlx-2021-07">less than $40 billion</a>, though on Monday the stock seemed to have found a floor around $8.</p><p>"We should always be focused on ensuring investors are fully informed of material risks, such as the risks we've seen recently related to China," said Lee.</p><p>Other US-listed Chinese stocks have similarly been battered by China's growing regulatory crackdown. Prominent Chinese IPOs such as RLX Technologies and Full Truck Alliance have seen <a href="https://markets.businessinsider.com/news/stocks/didi-stock-price-us-ipo-china-cybersecurity-regulation-rlx-2021-07">initial exuberance give way to rapid share-price declines</a>.</p><p>It is still unclear whether the SEC, Congress, or some other regulatory body has or will open a formal investigation into disclosure issues surrounding Chinese listings in America. </p><p>Didi was trading at $7.99 as of 3:37 p.m. ET, down about 1% on the day.</p>

Chinese companies listed in the US must disclose the potential for government interference or risk violating the law, top SEC official says

<ul><li><strong>102 companies went public in the first three months of 2021 in the busiest quarter for IPOs in over 20 years. </strong></li><li><strong>But an index that tracks newly public companies is underperforming the S&amp;P 500 for the quarter. </strong></li><li><strong>While some major IPOs like Bumble and Coupang have soared in price, other companies have disappointed. </strong></li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingesttm_medium=ingest"><strong>Sign up here for our daily newsletter, 10 Things Before the Opening Bell</strong></a><strong style="color: #222222;">.</strong></li></ul><p>The first quarter of 2021 was the busiest quarter for initial public offerings in the US in over 20 years, according to a report from <keyword id="216067" type="COMPANY" weightage="60" keywordseo="Renaissance-Capital">Renaissance Capital</keyword>. 102 companies went public and raised $40.3 billion, fueled by momentum from 2020, high volume, and large offerings. <br /><br />But as excitement around IPO activity has gained, the performance of the newly public companies has lagged. The Renaissance <keyword id="2404584" type="ORGANIZATION" weightage="60" keywordseo="IPO-index">IPO Index</keyword> fell 7% in the quarter, compared with the <a href="https://markets.businessinsider.com/index/s&amp;p_500_500">S&amp;P 500</a>, which rose 4% in the same time period. The IPO index began to underperform the benchmark in mid-March. </p><p>In addition, IPOs in the first quarter averaged a 32% first-day "pop," but saw excitement fade after the close of the first day of trading. On average, companies that have gone public in the quarter have lost 14% from their first-day closes. <br /><br />That performance is significantly weaker than the previous quarter. Companies that went public during the fourth quarter of 2020 averaged a 37% first-day pop, and then gained an average 28.2% for the rest of the quarter. </p><p>A number of companies with high-profile IPOs have lowered their own expectations, prompting some investors to question whether this market has overheated in the last year. </p><p>On Wednesday, <a href="https://www.businessinsider.com/compass-ipo-s1-profit-loss-real-estate-tech-brokerage-2021-3?utm_source=markets&amp;utm_medium=ingestgest"><strong>Compass</strong></a> slashed its IPO price range and cut its expected valuation from $10 billion to $7 billion. In London, Amazon-backed Deliveroo priced its shares at the bottom of its range on Tuesday, <a href="https://www.businessinsider.com/deliveroo-stock-price-ipo-london-stock-exchange-food-delivery-2021-3?utm_source=markets&amp;utm_medium=ingestgest"><strong>and then tumbled 30% during its first day of trading</strong></a>.</p><p>Others have got a warm reception from investors, like dating-app <a href="https://markets.businessinsider.com/news/stocks/bumble-stock-price-initial-public-offering-ipo-whitney-herd-bmbl-2021-2-1030077857">Bumble</a>, which was one of the best performing US IPOs in the first quarter. According to Renaissance, it's gained 45.8% since its IPO. It was the second-largest deal behind South Korea's Coupang, which listed in New York, and has returned 25.1% since going public.  </p><p>However, Renaissance shows out of the 10 largest US IPOs from the quarter, three of them have seen negative returns since their public debut: <a href="https://markets.businessinsider.com/stocks/pltk-stock">Playtika Holding</a>, <a href="https://markets.businessinsider.com/stocks/oscr-stock">Oscar Health</a> and <a href="https://markets.businessinsider.com/stocks/rlx-stock">RLX Technology</a>.<br /><br /><div type="image" title="Screen Shot 2021 03 31 at 4.04.05 PM" height="501" width="1201" msid="81842988" hostid="261"></div></p>

The US IPO market just had its busiest quarter in over 20 years - but newly public stocks are underperforming, a Renaissance Capital report finds

<ul><li><strong><keyword id="552967" type="PERSON" weightage="60" keywordseo="tech-stocks">Tech stocks</keyword> led the broader rally on Monday as investors eye a pullback in Treasury yields.</strong></li><li><strong>Bank of America revised its forecast from 1.75% to 2.15% for the 10-year US Treasury note by year-end.</strong></li><li><strong>Twitter CEO Jack Dorsey <a href="https://www.businessinsider.com/jack-dorsey-nft-first-ever-tweet-sold-29-million-twitter-2021-3">sold his first-ever tweet</a> for $2.9 million dollars as an NFT. </strong></li><li><strong><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a></strong></li></ul><p>Tech stocks led the broader rally on Monday as investors eye pullback in Treasury yields and resumed buying after last week's volatility. </p><p>The tech-heavy <keyword id="912180" type="PERSON" weightage="60" keywordseo="Nasdaq-100">Nasdaq 100</keyword> closed higher by over 1% as the <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_source=markets&amp;utm_medium=ingestgest">10-year US Treasury note</a> tumbled from a 14-month high. </p><p>Bank of America revised its forecast from 1.75% to 2.15% for the 10-year US Treasury note by year-end, adding that "curves appear headed steeper but not uniformly."</p><p>"Our prior forecasts identified the likely drivers and magnitude of the move, although we underestimated the speed of the adjustment. Our forecasts are in-line with fair value implied by our US economist projections," the bank said in a <a href="https://rsch.baml.com/r?q=9E5vUJNe9TUqReU0vS4c6Q&amp;e=isabelletanlee%40gmail.com&amp;h=kYG4dQh=kYG4dQh=kYG4dQ">note</a> on Monday.</p><p>Here's where US indexes stood at the 4 p.m. ET close on Monday:</p><ul><li><strong><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingesttm_medium=ingest">S&amp;P 500</a></strong>: 3,940.51, up 0.7%</li><li><strong><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest">Dow Jones industrial average</a></strong>: 32,731.14, up 0.32% (103.17 points)</li><li><strong><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest">Nasdaq composite</a></strong>: 13,377.54, up 1.23%</li></ul><p>On Friday, tech stocks rebounded after Treasury yields stabilized. However, the <a href="https://www.federalreserve.gov/newsevents/pressreleases/bcreg20210319a.htm">Fed's announcement</a> earlier that day that it would not extend the temporary regulatory relief it granted banks after March 31 sent bank stocks<a href="https://markets.businessinsider.com/news/stocks/bank-stock-reaction-slr-rule-change-fed-expire-capital-loans-2021-3-1030228591?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest"> lower.</a></p><p><a href="https://markets.businessinsider.com/stocks/ksu-stock?utm_source=markets&amp;utm_medium=ingestgest">Kansas City Southern</a> surged 14% following the <a href="https://markets.businessinsider.com/news/stocks/kansas-city-southern-stock-price-buyout-merger-canadian-pacific-railway-2021-3-1030232768">railway operator's deal</a> to be purchased by Canadian Pacific Railway for $25 billion. The transaction set to create the first rail network that spans North America.</p><p><a href="https://markets.businessinsider.com/stocks/rlx-stock?utm_source=markets&amp;utm_medium=ingestgest">RLX Technology</a> sank as much as 45% on the Chinese government said it is looking to<a href="https://markets.businessinsider.com/news/stocks/rlx-technology-stock-price-sinks-chinese-government-ecigarette-regulation-2021-3-1030233004"> increase regulations</a> on e-cigarette manufacturers.</p><p>Morgan Stanley Investment Management is "<a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-federal-reserve-value-stocks-morgan-stanley-2021-3-1030233172">extremely bullish</a>" on value stocks, especially after the Federal Reserve's decision to keep its policy in place until the US economy rebounds last week. Continued liquidity and no change in policy mean sustained performance for value stocks, Andrew Slimmon, managing director and senior portfolio manager, explained.</p><p>In the crypto space, Twitter CEO Jack Dorsey <a href="https://www.businessinsider.com/jack-dorsey-nft-first-ever-tweet-sold-29-million-twitter-2021-3">sold his first-ever tweet</a> for $2.9 million dollars as a non-fungible token, or NFT, on Monday. Hours after the news broke, the executive donated the sum to a nonprofit's Africa response.</p><p><a href="https://uk.tradingview.com/symbols/BTCUSD/">Bitcoin</a> fell 2.97% to $55,782 as of Monday 4 p.m. ET, after scaling above the $57,000-level earlier in the day.</p><p>Oil prices rose modestly. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">West Texas Intermediate crude</a> was up 0.8%, to $61.47 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestce=markets&amp;utm_medium=ingest">Brent crude</a>, oil's international benchmark, was up 0.2%, to $64.54 per barrel.</p><p><a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Gold</a> slipped as much as 0.32%, to $1,739.79 per ounce.</p>

Nasdaq surges on tech-stock strength as Treasury yields cool from 14-month high

<ul><li><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Acura</span></p><p class="caption">The Acura RLX Sport Hybrid (Center)</p></div><p></p></div></div><strong>The 2018 Acura RLX gets refreshed sheet metal and updated tech.</strong></li><li><strong>RLX Sport Hybrid features drive technology derived from NSX supercar.</strong></li><li><strong>The 2018 RLX goes on sale in November. </strong></li></ul><p>On Thursday, Acura unveiled the fresh new look that will adorn the brand's updated 2018 RLX sedan.</p><p>The new sheet metal will see Acura's flagship sedan do away with its controversial front grille affectionately known as the "chrome beak".</p><p>Instead, the RLX will get a <a href="http://www.businessinsider.com/acura-precision-concept-drops-the-beak-in-front-2016-1" target="_blank" rel="noopener noreferrer">new"diamond Pentagon" grille derived from the front fascia of the Acura Precision Concept</a> introduced at the 2016 Detroit Auto Show.</p><p>The new grille design has also been adopted by the TLX sedan and the MDX SUV.</p><p>In addition to the new grille, the RLX will also boast a more sculpted hood, more aggressive LED taillights, and a new gloss black diffuser.</p><p>"This redesign of the 2018 Acura RLX is transformational, creating road presence and styling that better reflect underlying performance capabilities of the vehicle," Acura vice president and general manager, Jon Ikeda, said in a statement.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Acura</span></p></div><p></p></div></div>For 2018, the RLX will be available in two flavors.</p><p>The base RLX's six-speed automatic transmission has been replaced by a new 10-speed unit that's tuned for improved refinement and better driving dynamics. The 310 horsepower, 3.5-liter V6 engine carries over with standard four-wheel-steering.</p><p>And then there's the RLX Sport Hybrid with Super Handling All-Wheel-Drive or RLX Sport Hybrid SH-AWD for short. Here, the 3.5 liter V6 is backed up by a hybrid drive system with technology taken directly from the award-winning NSX supercar. (<a href="http://www.businessinsider.com/honda-acura-nsx-business-insider-car-of-the-year-2016-12" target="_blank" rel="noopener noreferrer">The Acura NSX is Business Insider's 2016 Car of the Year</a>.)</p><p>That means 377 horsepower from a V6 engine with a torque-assist electric motor and a pair of electric drive motors bolted to the rear wheels.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Acura</span></p><p class="caption">Acura Hybrid tech.</p></div><p></p></div></div>The RLX will be available with a stellar Krell audio system and surround view cameras along with a host of safety features including adaptive cruise control, traffic jam assist, and road departure mitigation.</p><p>The Acura RLX debuted during the 2014 model year as the spiritual successor to the brand's beloved Legend sedan. However, the RLX's bland styling and uninspired driving dynamics have made for tepid sales and little interest from the brand's loyalists.</p><p>Hopefully, the stylish new looks and NSX supercar-derived tech will help the RLX drum up more interest in the showroom and among enthusiasts.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Acura</span></p></div><p></p></div></div>The 2018 Acura RLX and RLX Sport Hybrid will make their official debut next week at the Monterey Automotive Week and will hit showrooms in November.</p><p>Acura has not announced official pricing the sedans. However, expect the standard RLX to start at around $55,000, while the Sport Hybrid will cost around $60,000.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/behind-wheel-new-26-million-hypercar-bugatti-chiron-2017-7">We got behind the wheel of a $3.5 million Bugatti Chiron - it's like no other car in the world</a></h3>        <div>                    </div>    </div>

Acura's flagship luxury sedan is getting a stylish new look and supercar tech

<ul class="summary-list"><li>More than two dozen 2020 vehicles won't be back for the 2021 model year. </li><li>As consumer demand shifts, many automakers are eliminating sedans, wagons, and hatchbacks. </li><li>Only one crossover won't make it to 2021: the Dodge Journey. </li></ul><p>The <keyword id="34478" type="PERSON" weightage="60" keywordseo="auto-industry">auto industry</keyword> is in the midst of a crossover boom - and for every new compact crossover automakers bring to market, some sorry sedan or hatchback heads to the automotive graveyard.</p><p>The list of models that won't live to see the 2021 model year includes some iconic and long-running nameplates like the Lincoln Continental, Chevy Impala, and Dodge Grand Caravan, along with some short-lived models that just didn't manage to catch on, like Jaguar's high-performance station wagon and Alfa Romeo's inexpensive mid-engine sports car. </p><p>And although the models that won't live to see the 2021 model year span makes and price points, the one thing that unites nearly all of them is that they're not crossovers. In fact, after the 2020 model year, multiple brands - Cadillac, Lincoln, Buick, and Ford among them - will have transitioned to lineups that don't include a single sedan. </p><p>Check out 25 cars automakers killed off for 2021 below: </p><h2><strong>Acura RLX</strong></h2><p><strong><div type="image" title="2020_Acura_RLX_Sport_Hybrid_034 source" height="1667" width="2500" msid="79978917" hostid="261"></div></strong></p><p>The RLX luxury sedan is out of Acura's 2021 lineup after selling <a href="https://hondanews.com/en-US/releases/release-807c080220275f828905387c4f002e91-record-light-truck-sales-lift-ahm-and-honda-brand-to-sales-increases-in-2019">just over 1,000 units</a> in 2019. Acura sold roughly 50 times that amount of its MDX crossover, and around 60 times more RDX crossovers. </p><p>It has unusual features like rear-wheel steering and a sporty hybrid option with a claimed 377 horsepower, but that wasn't enough to keep buyers interested.</p><h2><strong>Alfa Romeo 4C Spider</strong></h2><p><strong><div type="image" title="Alfa Romeo 4C Spider 3" height="1502" width="2250" msid="79978918" hostid="261"></div></strong></p><p>Alfa Romeo killed off the hardtop version of the <a href="https://www.businessinsider.com/alfa-romeo-4c-spider-review-mini-ferrari-2016-7">4C</a> a few years back, and the roadster follows in its footsteps for 2021. Starting at under $70,000, the 4C is one of the most affordable mid-engined sports cars on the market - but alas, it <a href="https://www.goodcarbadcar.net/alfa-romeo-4c-sales-figures-usa-canada/">barely broke triple-digit sales</a> in 2019 and so it's gone for good. </p><p>But other inexpensive mid-engine options like the <a href="https://www.businessinsider.com/chevrolet-corvette-mid-engine-review-c8-horsepower-price-specs-chevy-2020-10">Chevy Corvette</a>, <a href="https://www.businessinsider.com/porsche-718-boxster-s-and-alfa-romeo-4c-spider-comparison-2018-5">Porsche Boxster</a>, and <a href="https://www.businessinsider.com/porsche-cayman-s-review-photos-details-2018-3">Porsche Cayman</a> are still kicking. </p><h2><strong>BMW i8</strong></h2><p><strong><div type="image" title="bmw i8 hero" height="2000" width="3000" msid="79978919" hostid="261"></div></strong></p><p>After six years on the market, it's the end of the line for the plug-in hybrid i8. Despite its somewhat confused combination of exotic looks and a tiny three-cylinder engine (aided by electric motors), the i8 managed to sell more than 20,000 units in its run, making it <a href="https://www.businessinsider.com/a-look-back-at-the-futuristic-bmw-i8-which-ends-production-in-april-2020-3">the best-selling car of its kind</a>, according to BMW. </p><p><a href="https://www.bmwblog.com/2020/08/26/bmw-i8-successor/">Rumors have circulated</a> around a possible i8 successor based on the Vision M Next concept car, but there's no official word yet on when or if that will happen. </p><h2><strong>BMW M8 Coupe and Convertible</strong></h2><div type="image" title="P90348795_highRes_the all new bmw m8 c" height="1571" width="2095" msid="79978920" hostid="261"></div><p>BMW is trimming the options available for its halo M8 due to COVID-19-related supply issues, <a href="https://www.caranddriver.com/news/a34252647/2021-bmw-m8-coupe-convertible-phased-out/">Car and Driver</a> reported in October. The coupe and convertible won't be available for 2021, but the four-door Gran Coupe version is still on the table if you have a spare $130,000 laying around.</p><h2><strong>Buick Regal</strong></h2><div type="image" title="2019 Buick Regal GS 021 (1)" height="1398" width="1865" msid="79978923" hostid="261"></div><p>After nearly 50 years on the market, GM has canceled the Buick Regal as part of its shift away from passenger cars. The move means the Buick brand will have an all-SUV lineup going into the 2021 model year.</p><h2><strong>Cadillac CT6</strong></h2><div type="image" title="2020 Cadillac CT6 V US Product 013" height="2377" width="3169" msid="79978929" hostid="261"></div><p>Cadillac made a name for itself building gigantic land yachts, but it's pared back its sedan lineup in recent years. Its biggest sedan won't make it to 2021, despite being one of Caddy's technological leaders and the only vehicle to get its twin-turbocharged, 4.2-liter, 550-horsepower <a href="https://www.businessinsider.com/cadillacs-new-blackwing-cars-here-to-take-on-bmw-mercedes-2020-4#-2">Blackwing V8</a>. </p><h2><strong>Chevrolet Impala</strong></h2><p><strong><div type="image" title="2018 Chevrolet Impala." height="2000" width="3000" msid="79978931" hostid="261"></div></strong></p><p>The iconic Impala nameplate bites the dust this year, but it's not the first time GM has discontinued the model. It's been on the market in spurts since the late 1950s - so there's still hope it returns once the nostalgia sets in. </p><h2><strong>Chevrolet Sonic</strong></h2><p><strong><div type="image" title="2020 Chevrolet Sonic 006" height="1395" width="2500" msid="79978933" hostid="261"></div></strong></p><p>The demise of the small car claims another victim in the Chevy Sonic. Sales of the inexpensive hatchback and sedan peaked in 2014, when Chevy sold <a href="https://carsalesbase.com/us-chevrolet-sonic/">nearly 94,000 of them</a>, but plummeted <a href="https://media.gm.com/media/us/en/gm/news.detail.html/content/Pages/news/us/en/2020/jan/0103-gmsales.html">below 14,000 in 2019</a>. </p><p>It started its life outside the US as the Aveo, and, like lots of compact cars that don't find success stateside, it will live on in other markets. </p><h2><strong>Dodge Grand Caravan</strong></h2><p><strong><div type="image" title="2020 Dodge Grand Caravan." height="1667" width="2500" msid="79978934" hostid="261"></div></strong></p><p>The Dodge Grand Caravan arguably <a href="https://www.businessinsider.com/history-rise-fall-of-the-minivan-led-by-dodge-caravan-2020-4">birthed the minivan segment</a> when it came on the scene in 1984 along with its upmarket sibling, the Plymouth Voyager. Now, as crossovers and full-size SUVs have superseded minivans as America's family hauler of choice, the minivan that started it all is no more. </p><p>But Fiat Chrysler isn't out of the minivan game altogether - it still sells the <a href="https://www.businessinsider.com/chrysler-pacifica-hybrid-minivan-review-features-2019-4">Chrysler Pacifica</a>, which got a facelift for 2021. </p><h2><strong>Dodge Journey</strong></h2><p><strong><div type="image" title="DG020_003JNf41s27dlha2vt5b61j75a7jmp2" height="1667" width="2500" msid="79978935" hostid="261"></div></strong></p><p>The Dodge Journey is the only crossover to kick the bucket for 2021, which speaks volumes of its consumer appeal - or lack thereof. As of May, nearly half of 2019 Journeys sat unsold on dealer lots, according to car search engine <a href="https://www.businessinsider.com/20-car-models-with-most-2019-surplus-inventory-2020-5">iSeeCars</a>.</p><h2><strong>Ford Fusion</strong></h2><p><strong><div type="image" title="2020 ford fusion titanium white platinum metallic" height="1292" width="2000" msid="79978936" hostid="261"></div></strong></p><p>Ford announced plans to discontinue all of its sedans <a href="https://www.washingtonpost.com/news/innovations/wp/2018/04/26/ford-has-been-synonymous-with-cars-for-more-than-a-century-thats-about-to-change/">back in 2018</a>, and it's achieved that with the demise of the Fusion. The Focus, Fiesta, and Taurus have all left the scene as well, leaving the Ecosport compact crossover as Ford's entry-level offering. </p><h2><strong>Ford Mustang Shelby GT350</strong></h2><p><strong><div type="image" title="2020 Ford Mustang Shelby GT350R Heritage Edition_6.JPG" height="1667" width="2500" msid="79978990" hostid="261"></div></strong></p><p>The V8-powered, manual-transmission-only <a href="https://www.businessinsider.com/ford-mustang-shelby-gt350-gt350r-stopping-production-this-fall-2020-10">Mustang Shelby GT350 and GT350R</a> pay homage to the famed Shelby GT350 of the 1960s, which kicked off the Mustang's high-performance reputation. But that rich history wasn't enough for the Blue Oval to keep it around. </p><p>For buyers who desire no less than an absurdly powerful sports car bearing the Shelby name, the 760-horsepower Shelby GT500 is still on the market. </p><h2><strong>Honda Civic Coupe and Civic Si</strong></h2><p><strong><div type="image" title="2020 Honda Civic Si" height="1608" width="3000" msid="79978991" hostid="261"></div></strong></p><p>Honda is launching a new, <a href="https://www.businessinsider.com/2022-honda-civic-debut-photos-sleek-styling-2020-11">11th generation of the Civic</a> for 2021, and some changes are coming to the popular model's lineup. The two-door Civic Coupe variant bites the dust after the 2020 model year, while the <a href="https://www.businessinsider.com/honda-civic-si-review-specs-sedan-manual-price-horsepower-sport-2020-8">sporty Si</a> will take a hiatus for 2021 and return for the following model year. </p><h2><strong>Honda Fit</strong></h2><p><strong><div type="image" title="Honda Fit" height="800" width="1200" msid="79978992" hostid="261"></div></strong></p><p>Carmakers are getting rid of small hatchbacks left and right, and Honda is no exception. It's axing the Fit, despite the little guy being widely regarded as <a href="https://www.businessinsider.com/one-of-the-best-affordable-cars-you-can-buy-just-got-an-update-2017-7">one of the best compact economy cars</a> money can buy. </p><p>It's an understandable move, given that Fit sales have declined as appetite for the brand's crossovers grows. Now the cheapest vehicle in Honda's lineup is the $21,000 HR-V, which <a href="https://hondanews.com/en-US/releases/release-807c080220275f828905387c4f002e91-record-light-truck-sales-lift-ahm-and-honda-brand-to-sales-increases-in-2019">outsold the Fit three-to-one</a> in 2019. </p><h2><strong>Hyundai Elantra GT</strong></h2><div type="image" title="2020 Elantra GT " height="995" width="1326" msid="79978994" hostid="261"></div><p>The hatchback version of the Hyundai Elantra heads to the great junkyard in the sky after the 2020 model year, along with its sporty sibling, the GT N Line. <a href="https://www.hyundainews.com/en-us/releases/3101">Hyundai said</a> the hatchback was displaced by the compact Venue and <a href="https://www.businessinsider.com/hyundai-kona-review-photos-styling-2020-12">Kona</a> crossovers.</p><p>But the Veloster and Veloster N carry over to 2021. </p><h2><strong>Jaguar XE</strong></h2><p><strong><div type="image" title="Jaguar XE" height="1667" width="2500" msid="79978995" hostid="261"></div></strong></p><p>Jaguar is eliminating its entry-level sport sedan, the XE, from its US lineup after selling only <a href="https://www.goodcarbadcar.net/jaguar-xe-sales-figures-usa-canada/">3,551 of them</a> in 2019. By comparison, BMW regularly sells well <a href="https://www.businesswire.com/news/home/20200103005391/en/BMW-of-North-America-Reports-December-2019-and-Year-End-U.S.-Sales.">over 40,000</a> 3-Series sedans annually, while Mercedes-Benz moved some <a href="https://carsalesbase.com/us-mercedes-benz-c-class/">50,000 C-Class sedans</a> in 2019. </p><p>For 2021, the XF sedan assumes the entry-level spot and gets a significant price cut to match.</p><h2><strong>Jaguar XF Sportbrake</strong></h2><p><strong><div type="image" title="Jaguar XF S" height="1200" width="1800" msid="79978996" hostid="261"></div></strong></p><p>Wagons are also going by the wayside as crossovers take over, and Jaguar is pulling its one and only long-roof model, the XF Sportbrake, from the American market after only three model years. In that time, Jaguar sold fewer than 250 of the wagons, according to <a href="https://www.roadandtrack.com/news/a34285524/jaguar-xe-xf-sportbrake-cancelled/">Road &amp; Track</a>.</p><p>Buyers in the market for a luxury wagon will need to look to offerings like the Volvo V90, Mercedes-Benz E-Class, <a href="https://www.businessinsider.com/audi-a4-allroad-wagon-crossover-review-2017-6">Audi</a> A6 Avant, or <a href="https://www.businessinsider.com/porsche-panamera-gts-sport-turismo-review-photos-features-verdict-2020-2">Porsche Panamera Sport Turismo</a> come 2021. </p><h2><strong>Kia Optima</strong></h2><p><strong><div type="image" title="Kia Optima" height="1326" width="2000" msid="79978997" hostid="261"></div></strong></p><p>The Kia Optima is on its way out after two decades in production. But the South Korean carmaker isn't abandoning sedans like some of its US counterparts - the Optima is succeeded by a sleek new mid-sized model called the <a href="https://www.businessinsider.com/2021-kia-k5-specs-features-photos-release-date">K5</a>. </p><h2><strong>Lexus GS</strong></h2><div type="image" title="LEX GSG MY20 0010 LEAD IMAGE scaled" height="1298" width="1731" msid="79978999" hostid="261"></div><p>The Lexus GS hit the scene in the early 1990s and has endured through four generations. This particular rear-wheel-drive sedan may be going away after 2020, but Lexus-sedan stans will still be able to choose the ES, LS, and IS. </p><h2><strong>Lincoln Continental</strong></h2><p><strong><div type="image" title="Lincoln Continental" height="942" width="2000" msid="79979001" hostid="261"></div></strong></p><p>Lincoln has used the Continental name on and off for some 80 years, and this latest version of the car is dead for 2021. But given the nameplate's deep history, there's a good shot it will come back someday - perhaps on some future electric luxury sedan. </p><h2><strong>Lincoln MKZ</strong></h2><p><strong><div type="image" title="Lincoln MKZ" height="2000" width="3000" msid="79979002" hostid="261"></div></strong></p><p>With the MKZ and Continental gone for 2021, Lincoln is <a href="https://www.businessinsider.com/lincoln-continental-mkz-sedan-dead-suv-crossover-lineup-american-luxury-2020-7">left with an all-SUV lineup</a> of the Nautilus, <a href="https://www.businessinsider.com/2020-lincoln-aviator-review-hybrid-specs-three-row-suv-luxury-2020-7">Aviator</a>, Corsair, and the flagship Navigator. </p><p>And the numbers back up Lincoln's move. In 2019, the brand sold some <a href="https://media.ford.com/content/dam/fordmedia/North%20America/US/2020/01/06/sales-4q2019.pdf">88,000 SUVs</a> and fewer than 25,000 sedans - and that's with only a partial year of Aviator sales. </p><p>Following this year's lineup shakeups at Ford and Lincoln, the Mustang is the Blue Oval's only car left standing. </p><h2><strong>Mercedes-Benz SLC</strong></h2><p><strong><div type="image" title="_F8A6477 1200x800" height="800" width="1200" msid="79979005" hostid="261"></div></strong></p><p>The Mercedes-Benz SLC is has been officially discontinued with no successor planned, following more than two decades of continuous production. For the model's last hurrah, Mercedes added a yellow <a href="https://media.mbusa.com/releases/the-slc-final-edition">2020 SLC Final Edition</a> to its lineup. </p><h2><strong>Toyota Yaris</strong></h2><p><strong><div type="image" title="Yaris " height="1166" width="1555" msid="79979006" hostid="261"></div></strong></p><p>The death of the Toyota Yaris, Honda Fit, Chevy Sonic, and Hyundai Elantra GT this year - along with the end of the Ford Fiesta and Mazda2 previously - leave a scant few options for fans of subcompacts here in the US. </p><p>Despite the Yaris being a favorite among lovers of small cars, it <a href="https://pressroom.toyota.com/toyota-motor-north-america-reports-december-2019-year-end-sales/">hasn't sold well</a> in the US as of late. Fewer than 22,000 of them rolled off of dealer lots in 2019, as compared with 304,850 Corollas, 336,978 Camrys, and 448,071 Rav4 crossovers. </p>

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