Shares of Chinese toymaker Pop Mart fell 9% on Thursday, marking the stock’s worst day since April. Despite this, the company reported third-quarter revenue had more than tripled year over year, with U.S. sales surging between 1,265% and 1,270%. Concerns are rising that the craze for collectible Labubu dolls may be fading, as resale prices drop after a period of high demand.

Data from Chinese resale platform Qiandao shows that some Labubus are now being sold close to or below official retail prices, indicating a shift in demand. Pop Mart stock has fallen 30% since August but is still up 159% this year. Analysts are divided on whether the decline in resale prices signals a decrease in consumer interest or is a result of Pop Mart’s efforts to increase supply and curb scalping.

Pop Mart reported a 10-fold increase in plush toy supply this year, manufacturing approximately 30 million units monthly. Morgan Stanley analysts highlighted that prices in the second-hand market may not accurately reflect the true supply and demand situation due to Pop Mart’s initiatives to limit resellers’ influence. Celebrity endorsements and the popularity of characters like Twinkle Twinkle continue to drive Pop Mart’s growth.

Read more at CNBC: Stock dips despite massive Q3 U.S. sales growth