Pop Mart shares (09992.HK) fell 8.49% to close at HK$200.4, marking their steepest decline in six weeks, as market concerns over slowing overseas sales intensified. The stock hit a session low of HK$199, driven by fears that US 'Black Friday' sales might not meet expectations. Short selling surged from HK$241 million to HK$623 million since December 2nd, reflecting increased bearish sentiment. Deutsche Bank recently issued a 'hold' rating, citing a decline in the Labubu series' secondary market premium due to increased production capacity. Morgan Stanley adjusted its target price to HK$325, forecasting strong sales growth for the Labubu series in 2024 but a slowdown in 2025. Despite a 245%-250% year-on-year revenue increase in Q3, with overseas markets growing by 365%-370%, Pop Mart's stock continues to face pressure as analysts question its transition from explosive to sustainable growth.
Pop Mart Shares Plunge 8.49% Amid Overseas Sales Concerns
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