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POP MART Falls Another 5% to ~7-Mth Low; M Stanley Expects Labubu's Rev. Growth to Slow Markedly Next Yr
Recommend 28 Positive 41 Negative 33 |
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After opening flat today (9th), POP MART (09992.HK) fell below the 250-day resistance (around HKD197). It once plunged by 6.1% after midday to a bottom of HKD188.1, marking a nearly seven-month low and a decline of around 44% from its historical high of HKD339.8 recorded in late August. It last traded at HKD189.9, down 5.24%, on a turnover of HKD3.536 billion. Morgan Stanley noted that POP MART is shifting from explosive to sustainable growth, while revenue growth for its core IP, Labubu, will slow markedly in 2026. Although sales of the Labubu series are expected to reach RMB15.5 billion in 2025 (41 times higher than in 2023), some customer attrition is likely to weaken future momentum. Coupled with capital rotation pressures across global consumer sectors, the broker has cut its target P/E ratio from 32 times to 26 times. AAStocks Financial News |
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