Pop Mart Shares Fall After Live-Streaming Incident About Pricing

(Bloomberg) — Pop Mart International Group Ltd. shares declined Friday, after a live-streaming incident raised questions about the toymaker’s product pricing.

The Hong Kong-listed stock dropped more than 5%, the most in about two weeks, to its lowest level since May.

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The slump came after a Pop Mart employee was caught on camera holding a so-called blindbox made by the company suggesting it was overpriced during a livestreaming session Thursday, Chinese local media The Cover reported.

“The company is investigating the situation,” a Pop Mart spokesperson told Bloomberg News.

Pop Mart’s shares have been under pressure in recent months and are now down about 38% since a late-August peak, hurt by profit-taking and concerns that frenzied demand for its products is unlikely to sustain. The Beijing-based firm has emerged as the hottest Chinese consumer stock over the past year, riding on a wave of demand for its toothy plush toys that have become a global craze.

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