---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42766332.md"
description: "Pop Mart saw a slight dip, which is quite decent given the overall sell-off in the Hong Kong stock market.The hype around Labubu remains strong, and overseas stores continue to expand. With no new fundamental variables, the decline reflects a drop in market sentiment.Valuations for trendy toys have never been cheap, nor has the controversy: Can the IP lifecycle truly support this market cap? Believers focus on repeat purchases and global expansion, while cautious investors keep an eye on second-hand market prices. I'm somewhere in between—holding a light position to follow the story, but if I were heavily invested, I'd have to monitor second-hand prices daily."
datetime: "2026-07-17T11:09:24.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42766332.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42766332.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42766332.md)
author: "[Alora](https://longbridge.com/en/profiles/28171282.md)"
---

# Pop Mart saw a slight dip, which is quite decent g…


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