热搜第一！Labubu，价格崩盘！

Core Viewpoint - The significant price drop of Labubu collectibles is primarily attributed to a large restock by Pop Mart, leading to a drastic decline in secondary market prices and impacting the company's stock performance [1][6][10]. Group 1: Price Decline and Market Impact - Labubu 3.0 box set prices fell by 45%, while the hidden variant "Ben Wo" saw a price drop of over 38% [2]. - The average transaction price for the "Qian Fang Gao Neng" series Labubu pendant plummeted nearly 48%, from 2279.7 yuan to 1181.3 yuan [7]. - The price range for regular Labubu items has decreased to between 208 yuan and 385 yuan, with the hidden variant "Ben Wo" priced at 2048 yuan [7]. Group 2: Reasons for Price Drop - The price drop is linked to Pop Mart's extensive restocking efforts, which began on June 18 and included multiple notifications across various platforms [3][4]. - An internal source from Pop Mart indicated that the restocking would not follow a predictable pattern to mitigate the influence of scalpers [5]. Group 3: Stock Performance - Following the news of the price drop and restocking, Pop Mart's stock fell over 5%, with a current price of 248.6 HKD per share, marking a cumulative decline of over 12% from its peak [10]. - The stock had previously surged from approximately 85 HKD per share at the beginning of the year to a high of 283.4 HKD on June 12, representing a maximum increase of 233% [10].