Pop Mart Extends Record Slide After Analysts Cut Price Targets

Pop Mart International Group Ltd. shares fell as much as 9.7% after analysts cut price targets and downgraded their outlooks, citing signs of slowing overseas momentum and growing reliance on the company’s Labubu franchise in its full-year results.

The Chinese pop toy maker’s stock dropped up to HK$152 ($19.4) in early Hong Kong trading. The decline follows a record 23% slump on Wednesday.