Pop Mart Stock Slips 6% As 2nd-Hand Blind Box Prices Plummet Reportedly
POP MART stock fell 6% in Hong Kong trading.
According to Chinese media reports, the trendy toy brand Labubu under POP MART saw a plunge in prices for its "Labubu The Monsters Have a Seat Vinyl Plush Series" on second-hand platforms.
The average price fell from RMB1,478 to RMB632, with some individual styles originally priced at RMB99 falling below the issue price to RMB82.
As for the fourth-generation mini Labubu, it sold out instantly when it was released online on August 28, with the price of a whole set on second-hand platforms rising to RMB1,600 and the hidden version approaching RMB800.
By the end of this month, however, the average transaction price of the hidden version had ebbed back to RMB264, and the price of a whole set had dropped to RMB1,077, according to platform data.
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