Labubu has collapsed! Bubble Mart's market value evaporated by 50 billion!
Once traded from a factory price of hundreds to over a thousand, more than tripling, blind boxes once became a golden egg in the eyes of capital. But with Bubble Mart 🧸 starting to restock and opening up channels, the secondary market instantly cooled down, and the buy-back price of Labubu plummeted from 1500 yuan to 6,700. On one side, scalpers suffered huge losses 🩸 and fled, while on the other, founders and executives quietly sold off their shares at high prices, cashing out over 10 billion Hong Kong dollars in total, and the company's stock price fell from a high of 275 Hong Kong dollars to midway, with a market value evaporating by over 50 billion…
From the explosive popularity of blind boxes to the bursting of the secondary market bubble, it only took one restocking cycle. Is the so-called IP 🪀 frenzy really an amplifier of consumer sentiment, or another game of musical chairs? When the emotions dissipate and rationality returns, what can Bubble Mart rely on to tell the next story? Perhaps, this is yet another tulip 🌷 story…