突然，闪崩暴跌！刚刚，做空了！

Group 1 - Pop Mart experienced a significant drop of nearly 10% on December 8, marking its largest decline in over six weeks, with the stock price down approximately 40% from its peak due to concerns over slowing sales growth in the U.S. market [1][13] - Investors are worried that Pop Mart's sales performance during the U.S. "Black Friday" promotions may fall short of expectations, impacting confidence in the company's growth prospects [3][14] - Following a reported over 1200% year-on-year increase in U.S. sales for Q3, the sustainability of overseas sales has become a key focus for investors [3][14] Group 2 - Analysts from Bernstein noted that the stock's weakness is largely attributed to a decline in North American offline sales trends throughout November, estimating that U.S. sales growth for Pop Mart has slowed to below 500% for the current quarter [4][14] - The consumer team at Cinda Securities observed that sales data during the Thanksgiving week showed no significant growth, indicating a "weak peak season" characteristic [4][15] - Recent short-selling reports have emerged, with some foreign institutions predicting a 10% to 20% decline in both Chinese and overseas markets next year, raising concerns about future performance uncertainty [4][14] Group 3 - Cinda Securities emphasized that high-frequency data may not accurately reflect actual sales, as it is based on credit and debit card sampling, and monthly data may be subject to later revisions [5][15] - The reports questioning future growth are primarily based on second-hand market premiums and store supply conditions, while the actual consumer base for Pop Mart's products is healthy, with only 3% being speculative buyers [5][15] - Excluding the U.S. market, growth trends in Europe, China, and Southeast Asia remain positive, indicating balanced global development [5][15] Group 4 - The overall A-share market showed a strong performance, with the ChiNext index rising over 3% and the Shanghai Composite Index increasing by 0.54% [6][16] - A total of 3,409 stocks rose, with 78 hitting the daily limit up, while 1,866 stocks declined [7][16]