Pop Mart's stock has dropped 40% since August as interest in Labubu figurines wanes, raising concerns about its market position.
Pop Mart International has experienced a significant stock decline of approximately 40% since August, as reported by Bloomberg, due to fading enthusiasm for its Labubu figurines.
The recent weak performance during the US Black Friday sales and a slowdown in resale demand have drawn parallels to the 1990s Beanie Babies bust, casting doubt on Pop Mart's aspirations to compete with industry giants like Walt Disney and Sanrio.
According to YipitData, revenue growth in North America slowed to 424% for the quarter ending December 6, a stark decline from the previous three months. Additionally, bearish bets against the stock have tripled since November, reaching their highest levels since August 2023, according to S&P Global data.
