Labubu manufacturer’s shares plunge

The decline in interest in Labubu has already left its mark on the toy manufacturer’s shares, the Financial Times reports.

Shares of Chinese company Pop Mart, which produces the terrifying Labubu toys, saw their biggest drop since April on Sept. 15, as the toy’s success appears to be fading.

Despite the decline, the company’s stock has still recorded a 180% year-to-date gain.

Analysts caution, however, that Pop Mart’s reliance on Labubu poses risks if the trend proves short-lived. They argue the company must continue introducing new popular characters to sustain its growth.