Pop Mart shares drop over 5% as Morgan Stanley removes it from focus list

From CNBC: 2025-06-19 23:52:00

Shares in Chinese toy company Pop Mart, known for Labubu craze, dropped over 5% after Morgan Stanley removed it from focus list. Year-to-date gains of over 160% but on track for first negative week since May. Labubu toys have become global phenomenon, with overseas sales surpassing domestic sales in 2024.

Read more: Labubu-maker Pop Mart shares fall as Morgan Stanley cuts it from list