Pop Mart shares fall after live-streaming incident about pricing
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Labubu figurines on display at a Pop Mart exhibition in Shanghai in October.
PHOTO: REUTERS
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HONG KONG - Pop Mart International Group shares declined on Nov 7, after a live-streaming incident raised questions about the toy maker’s product pricing.
The Hong Kong-listed stock dropped more than 5 per cent, the most in about two weeks, to its lowest level since May.
The slump came after a Pop Mart employee was caught on camera holding a so-called blindbox made by the company suggesting it was overpriced during a live-streaming session on Nov 6, Chinese local media The Cover reported.
“The company is investigating the situation,” a Pop Mart spokesperson told Bloomberg News. BLOOMBERG
