Labubus are causing a frenzy, as 1 rare doll sells for $150K. But can the hype hold for those who bought in?

Collecting stuffed toys isn’t exactly groundbreaking. But if you’ve noticed a mischievous little elf-monster dangling from someone’s handbag or even a scuffle breaking out in the toy aisle, you’ve probably crossed paths with the Labubu — this season’s unlikeliest It item. Just ask Manna Wang, a Hong Kong insurance agent who went so far as to hire a college student to hunt them down at any price. In June, that student struck gold: six Labubus priced at HK$99 (about $12.70) each, then flipped for around HK$ ...