POP MART's Market Cap Slashes by Over 200 Billion, Labubu Popularity Wanes and Overseas Growth Slows

POP MART's stock has fallen over 40% from its peak, wiping out 200 billion HKD in market cap. Despite a massive 365% overseas revenue surge in Q3, declining Labubu popularity has caused resale premiums to shrink, leading to fund sell-offs and analyst downgrades as the company transitions from explosive to sustainable growth. AI-generated

Why it matters：Analyzes the impact of declining Labubu popularity and slowing overseas growth on stock prices, revealing the transition pains of the art toy industry from explosive to sustainable growth.

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