The Hong Kong stock market of the leading hipster Bubble Mart continued its downward trend. Since hitting a phased high of HK$339.8 in late August, the company's stock price has fallen by more than 40%, and the market value has evaporated by more than HK$200 billion. According to Wind data, on December 29, Bubble Mart's short sale amount reached HK$304 million. The number of short shares sold was nearly 1.5 million shares, and the number of unclosed short shares was 94.92 million shares, the highest value in the year. Behind the continued decline in stock prices is a significant decline in the popularity of core IPs. On December 29, the phrase “Bubble Mart has started selling at 50% off” became popular on Weibo, and the price of used Labubu blind boxes, which had been hyped up to sky-high prices, dropped sharply. According to data from the Getaway App, the average transaction price of the Labubu 4th generation box dropped from 1,916 yuan at the beginning of sale to 1,088 yuan; the average transaction price of some models on the Leisure Fish Platform in the past 7 days was only 77.5 yuan, falling below the official release price. Some scalpers also posted that they are “suspending the acquisition of the Labubu series.”

The Hong Kong stock market of the leading hipster Bubble Mart continued its downward trend. Since hitting a phased high of HK$339.8 in late August, the company's stock price has fallen by more than 40%, and the market value has evaporated by more than HK$200 billion. According to Wind data, on December 29, Bubble Mart's short sale amount reached HK$304 million. The number of short shares sold was nearly 1.5 million shares, and the number of unclosed short shares was 94.92 million shares, the highest value in the year. Behind the continued decline in stock prices is a significant decline in the popularity of core IPs. On December 29, the phrase “Bubble Mart has started selling at 50% off” became popular on Weibo, and the price of used Labubu blind boxes, which had been hyped up to sky-high prices, dropped sharply. According to data from the Getaway App, the average transaction price of the Labubu 4th generation box dropped from 1,916 yuan at the beginning of sale to 1,088 yuan; the average transaction price of some models on the Leisure Fish Platform in the past 7 days was only 77.5 yuan, falling below the official release price. Some scalpers also posted that they are “suspending the acquisition of the Labubu series.”