Labubu-Maker POP Mart’s stock is falling when Morgan Stanley reduces it from the list

Beijing – stock in Pop -MartThe Chinese toy company, which is behind the recent hobby of Labubu, continued to collapse on Friday after Morgan Stanley removed the shares from the focus list.

Hong Kong Pop Mart shares were more than 5%, continuing the slide from the previous session when they fell by 5.3%. This has put a high-level stock on its first negative week since the beginning of May-s losses over 13% so far. Its profit is more than 160%from year to year.

Morgan Stanley stated in the note at the end of Wednesday, which replaces pop -march insurance company Picc P & C In the list of the company in China and Hong Kong.

The investment bank did not specify why it deleted POP Mart’s stock. On June 10, the firm raised the target price for a toy company up to $ 302 ($ 38.47), which compared to 224 HKD, on the expectation that Pop Mart still had the opportunity to grow in the long run.

“We believe that the market was completely taken into account in the exponential growth of POP MART in 2025, but may have no serious beliefs in the long run,” said Dostin Vay and the team, on June 10.

“Given this, given its high appreciation, we do not expect this level of results to continue in the next few quarters,” the statement reads.

On June 12, POP Mart’s shares reached a record interior of 283.40 HKD.

Beijing’s toy-based toy rapidly expanded abroad on online sales and physical stores, including the United States and the UK

POP Mart first gained popularity in its “blind box” concept, in which consumers buy unmatched boxes – which can cost about $ 5 to $ 10 – for chances to get a unique figure and create a collection.

In the last few months, a series of Labubu toys with an elf character has become a global phenomenon, even attracting fashion fashion and culture New York Magazine and The New York Times.

Pop Mart also released the stuffed labubu toys, pillows and related goods to seize demand. 4-foot loop sold for the equivalent of 170,000 dollars At the auction in Beijing earlier this month. Many of the more accessible versions of the statuette came out of the presence in the mainland China.

“We have seen certain trends before … It seems that there is always some kind thing that people should have,” Jacob Cooke, co-founder and CEO of WPIC Marketing + Technologies said on Friday. The company helps foreign brand – for example, Vitamix and is clinical – selling online in China and other parts of Asia.

Last year, he pointed to the Capybara’s filled toys. Chinese retailer Mini –Which also has shops in the US and other countries was one of the main sellers of the stuff.

Cook saw the pop Martha “more lucky than anything”, although he noted that it reflects the growth of interest in toys not only for children but also for adults.

Testifying Foreign sales In 2024, in 2021, the total sales of the company had already exceeded.

The company reported the total sales, primarily domestic, is 4.49 billion yuan ($ 624.6 million) in 2021. In 2024, 5.1 billion yuan exceeding the sale, which is 373% compared to the year, and the sales of mainland China rose 7.97 billion yuan.