Blokees Stock Halved Post-IPO: Valuation Overheated by 'Merch Economy'

Blokees surged over 40% on debut but fell over 60% from highs due to lock-up sales and downgraded targets. The article compares its heavy reliance on licensed IPs like Transformers with POP MART's self-owned IPs like MOLLY and LABUBU, arguing that as 'merch economy' hype fades, the secondary market prioritizes profit attribution. AI-generated

Why it matters：Analyzes why the valuation logic of 'middle-aged Pop Mart' failed by comparing business models.

Source：证券之星 · Read the original ↗

Story：Blokees stock plummets after IPO