US EditionPop Mart Founder Wang Ning’s Net Worth Drops $6 Billion As Labubu Demand Cools
Pop Mart's increased production of Labubu toys has softened secondary market prices, impacting investor sentiment while the company plans new releases and overseas expansion.
- Pop Mart founder Wang Ning's net worth dropped by almost $6 billion after shares fell following the August 28 release of the Labubu 4.0 series in Hong Kong.
- The decline stems from cooling demand and falling resale prices for Labubu dolls amid rising supply and intense competition in the collectible toy market.
- Pop Mart's stock, though still up 180% year to date, suffered its worst one-day drop since April and was downgraded to neutral by JPMorgan, which cut its target price by 25%.
- JPMorgan analysts warned the valuation was "priced for perfection" and any negative news might cause underperformance, while many buyers expect further price drops.
- Despite short-term setbacks, Pop Mart emphasizes profitability and overseas expansion and plans to launch new IP and interactive toys to sustain growth.
11 Articles
11 Articles
Labubu craze dies down as stock loses billions
The frenzy surrounding Labubu dolls has cooled in recent weeks, halting one of the world's fastest stock rallies and erasing billions of dollars from Pop Mart International Group's valuation. Pop Mart's shares dropped almost 9% in Hong Kong, the steepest fall since April, after analysts downgraded the stock over its overheated valuation. Despite the pullback, the company's shares remain up more than 180% since the start of 2024, leaving room for…
Has the world had enough of Labubu dolls?
For months, the world has been entranced by Labubu dolls. Celebrities including Rihanna, Dua Lipa, and Blackpink’s Lisa and Rosé have been spotted carrying them as fashion accessories, and people have bid vast sums to own rare collectibles. Yet now, Pop Mart, the Chinese company behind the brand, has recorded its worst trading day in months. Is the craze fading?
Pop Mart Founder Wang Ning’s Net Worth Drops $6 Billion As Labubu Demand Cools
Wang Ning, the founder of Chinese toy maker Pop Mart International Group, has seen his net worth plummet by almost $6 billion in less than a month – as the latest edition of the company’s Labubu series of dolls seems to be losing some traction in mainland China.
The Labubu hype has driven the stock of the manufacturer Pop Mart to extreme height and made the company founder one of the richest Chinese. Now the boom shows first cracks.
The actions of the Chinese company Pop Mart, the manufacturer of Labubu beans, recorded a significant decline in the Hong Kong Bottle, signaling a possible end of February by these collectible toys that became a consumption phenomenon. In the last session, the company's roles recovered 6.43%, closing $259 in Hong Kong. In the five-day accumulation, the disvaluation reached 10%, demonstrating a change in investor perception of the future of the b…
Coverage Details
Bias Distribution
- 80% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
