Pop Mart shares dropped after the company announced its first-half results, which Citi said came below expectations. Revenue declined in Asia Pacific, excluding China, and the Americas.
Pop Mart , the Beijing-based maker of collectible "blind box" toys including the toothy-grinned Labubu, is diversifying its business by opening its first international bakery in Singapore.
Pop Mart stands out as the only one of Hong Kong's most shorted stocks where shorts are losing money, said S&P Global Market Intelligence. The persistent bearish bets reflect deepening tension between a sizable cohort of skeptical traders and the bulls.
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