Labubu-maker Pop Mart shares fall as Morgan Stanley cuts it from list

Beijing – stocks Pop MarchThe Chinese toy company behind the latest lab of frenzy continued to fall on Friday after removing the Morgan Stanley stock from a focus list.

Pop fell more than 5%of the shares in the Hong Kong list of March and extended the slides by 5.3%. This is the highly flying stock for the first negative week since the beginning of May-until the moment of more than 13% loss. New Year’s earnings are over 160%.

Morgan Stanley said that Pop Mart was changed with the insurance company in a note late on Wednesday. PICC P & C China and Hong Kong are on the focal list.

Investment Bank did not explain why he had removed Pop March shares. On June 10, the company increased its price target at the toy company to 302 Hong Kong ($ 38.47) on the expectations of Pop March from 224 HKD to the long run.

“We think that the market completely takes into account the expansion of the MARCH in March 2025, but may not have a strong conviction about the long -term view,” Equity Analyst Dustin Wei and a team said in a June 10 report. He said.

“Considering this supreme valuation, we do not expect the performance level to continue in the next few quarters,” the report said in the report. He said.

POP March shares reached 283.40 HKD on June 12th.

Beijing -based toy company has expanded rapidly abroad with online sales platforms and physical stores, including the US and the UK.

Pop March first, consumers buy unmarked boxes for the chance to buy a unique figurine and create a collection – with the concept that it could have a cost of about $ 5 to $ 10 – each.

Over the last few months, the company’s “Labubu” toys, which have an ELF -like character, have become a global phenomenon by attracting fashion and culture -oriented attention. New York Magazine And New York Times.

Pop March also released toys, pillows and related products filled toys, pillows and related products to capture the request. A 4 -meter Labubub Sold for $ 170,000 equivalent At the beginning of this month, an auction in Beijing. Many of the more affordable versions of the figurine were then out of stock in the Chinese mainland.

“We’ve seen some tendencies such tendencies before, Jacob Cooke, founding partner and CEO of WPIC Marketing + Technologies,” We’ve seen some such tendencies like this … It seems like something cute that people should have. ” The company helps to sell foreign brands such as vitamix and clinics online in China and other parts of Asia.

Last year, Capybara pointed to interest in toys filled. Chinese retailer MinisoIt was one of the main vendors of the filled animal, which had stores in the US and other countries.

Cooke saw Pop March as “more lucky”, but not only for children, but also for adults, but also reflecting the interest in toys.

The overseas sales of Pop March, which shows the rising popularity of its toys, has already exceeded the company’s general sales in 2021.

In 2021, the company first reported the total sales of 4.49 billion Yuan ($ 624.6 million). In 2024, only overseas sales reached 5.1 billion Yuan with an increase of 373% compared to a year ago, while Chinese sales rose to 7.97 billion Yuan.