Reduced demand for Labubu dolls lowers Pop Mart share price

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Reduced demand for Labubu dolls lowers Pop Mart share price
Photo: Markus Schreiber/AP/TT

Concerns about reduced demand for Labubu dolls are causing Pop Mart's share price to fall sharply.

Reports of lower-than-expected sales during the holiday season and price cuts are weighing on the company's share price. The drop of just over 6 percent on the Hong Kong Stock Exchange is the biggest in the past three trading weeks and places Pop Mart at the bottom of companies on Asia's leading exchanges.

The decline began in August, and since then more than $25 billion in market capitalization has been wiped out. However, it should be put into perspective that the company's share price has more than doubled since the beginning of the year.

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TT News AgencyT
By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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