Premiums, price swings, scalpers and fakes.
Summaries are AI-generated
LABUBU sales underperformed during US Black Friday, with resale prices dropping significantly. POP MART's stock has fallen nearly 44% from its August peak, raising concerns about overseas growth sustainability and the loss of IP scarcity.
POP MART's stock has fallen over 40% from its peak, with a market cap loss of HK$200 billion and a 31% drop in institutional holdings. Labubu's hidden figures have seen a premium cut of over 50%, and regular styles are now trading below retail prices on second-hand platforms, with analysts predicting a shift from explosive to sustainable growth.
POP MART's stock price has fallen by over 1/3 from its yearly high, with short sellers citing slowing growth and high IP concentration. The company boosted production and implemented purchase limits to curb scalpers, aiming to return to product value, yet prices for hot items like Labubu have collapsed on the secondary market, raising concerns about IP value and quality control.
The LABUBU '1 AM' series blind box, priced at 790 yuan for a full set, saw no queues and plummeting sales on launch day, with secondary market prices falling below 600 yuan. Experts note that IP popularity is cyclical and brands must return to quality and user trust.
Kayou's prospectus expired on the HKEX website, marking its second failed IPO attempt after January 2024. Despite strong financial performance and leading market share, the company faces regulatory pressure due to its 'gambling-like' business model and concerns over minor protection.
On Oct 23, POP MART released a 15th anniversary series featuring 15 regular and 1 chase figure across IPs like LABUBU and MOLLY. Significant resale premiums appeared on the platform, with the MOLLY 'Sweetheart Party' chase rising 6.5x.
Dragged down by the broader HK new consumption sector, POP MART fell 8.08% to HK$250.4 on Oct 21. Despite Q3 earnings surging and JPMorgan raising the target price, the stock is down ~15% from its August peak. Meanwhile, new releases like LABUBU show high resale premiums, with the WHY SO SERIOUS hidden figure trading at 13.4x the retail price.
POP MART's stock fell to HK$269 on September 10, with a market cap loss of HK$29.5 billion. Labubu 'Id' resale prices dropped from HK$4,356 to HK$834 in 90 days, and scalpers have paused buying, with full case prices falling.
On Aug 7, POP MART's stock rose nearly 6% intraday, hitting a high of HK$293.40. Morgan Stanley maintained a 'Add' rating with a HK$365 target, citing undervalued platform value. 2025 H1 revenue grew over 200% YoY, and net profit increased over 350%.
POP MART reported a revenue growth of at least 200% and a net profit increase of over 100% for the first half of 2025. Despite the strong performance, the market remains unimpressed, reflecting a disconnect between fundamentals and secondary market sentiment.
52TOYS plans to list on the Hong Kong stock exchange, becoming China's third toy company to go public after POP MART and Blokees. The article compares POP MART's stock surge of over 11 times since February 2024 and its market cap exceeding 300 billion yuan, discussing the balance between IP monetization efficiency and incubation speed.
Kayou filed for IPO, with revenue rising from 4.13 billion yuan to 10.057 billion yuan and net profit reaching 4.466 billion yuan from 2022 to 2024. Trading card business accounts for over 80% of revenue with a gross margin of about 67%.
Shares of Mattel and Hasbro plummeted in early trading on Thursday as the two toymakers warned of soft sales during the key holiday shopping season.
Paddle8's third art toy auction features 27 vinyl figurines by contemporary artists and toymakers, priced from $400 to $13,000. KAWS has the most works in the sale, with prices closer to those on AliExpress, eBay, and Phillips, making them an accessible entry into the art market.
The SKULLPANDA Dining Series blind box was pulled from stores after a typo changed the brand name to POP MAET.
StockX and Walmart have restocked Labubu blind boxes on Walmart.com, featuring multiple The Monsters series with official authentication and discounts.
POP MART stock jumped 12% to HK$5 on Tuesday. The company disclosed its 2021 Q3 operational data for the first time.
