从U型曲线到红海深水区:泡泡玛特市值的可持续性拷问

钛媒体APP
01 Apr

文 | 号外工作室,作者 | 则安,编辑 | 周周泡泡玛特是个神奇的公司。2020年登陆资本市场时,凭借“无用之物”潮玩创下千亿市值,让投资者直呼看不懂。2022年,一度陷入估值泡沫论,市值堪称“脚脖斩”。2024年年底,泡泡玛特上演了“熹妃回宫”的戏码,市值重新站上千亿,再次让基金经理摸不着头脑。谁也没想到,泡泡玛特走出了从顶峰到谷底,再触底反弹的“U型曲线”。二级市场的情绪是企业商业价值的直观...

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