Stock Track | POP MART Plummets 5.65% Intraday as Second-Hand Labubu Toy Prices Collapse

Stock Track

2025/12/30

POP MART (09992) saw its stock price plummet by 5.65% during intraday trading on Tuesday, reflecting investor concerns over the brand's secondary market performance.

The decline follows reports of a sharp drop in resale prices for POP MART's Labubu toy series, particularly the "Labubu The Monsters Have a Seat Vinyl Plush Series." Average prices on second-hand platforms fell from RMB1,478 to RMB632, with some styles trading below their original issue price. This price erosion in the secondary market has raised questions about the brand's premium valuation and collector demand.

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