Latest：Latest reports reiterate the 'middle-aged POP MART' label cannot support high valuations.
Blokees' stock surged over 40% on its debut but then fell over 60% from its peak. Early reports cited its heavy reliance on licensed IPs (e.g., Transformers) versus POP MART's self-owned IPs (e.g., MOLLY, LABUBU), arguing the 'middle-aged POP MART' label cannot sustain valuation. Later reports noted restrictions from share unlockings and lowered target prices, with the secondary market prioritizing profit attribution as 'anime merch economy' hype wanes. AI-generated
Blokees surged over 40% on debut but has since fallen over 60% from its peak. The article compares Blokees' heavy reliance on licensed IPs like Transformers with POP MART's model centered on owned IPs, arguing the 'middle-aged POP MART' label cannot sustain high valuations.
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.
Blokees stock surged over 40% on debut but later fell over 60% from its peak. The article compares Blokees' heavy reliance on licensed IPs like Transformers with POP MART's model centered on owned IPs like MOLLY and LABUBU, arguing the 'middle-aged POP MART' label cannot sustain valuation.
