Pop Mart Near HK$160: Can Labubu Drive a Rebound to HK$200?
2026-07-28
Pop Mart’s recovery has put investors back in a familiar position: deciding whether Labubu is still a powerful growth engine or whether the market is beginning to price in a peak for the phenomenon.
With the stock trading around the HK$160 area in the scenario under discussion, the psychological HK$200 level is once again attracting attention.
Reaching it would require more than another short term rally. Pop Mart would need continued demand, successful product launches, stronger international sales and improving investor confidence.
Key Takeaways
Labubu remains central to Pop Mart’s growth story and global brand appeal.
HK$200 is possible, but a sustained breakout would likely require fresh demand catalysts.
Weakening resale prices and concerns about peak Labubu demand remain key risks.
Why Labubu Still Matters to Pop Mart’s Growth Story
The biggest reason investors continue to watch Pop Mart is simple: Labubu has become much more than a successful collectible toy. The character has developed into a global cultural phenomenon, helping Pop Mart expand its reach far beyond its original Chinese market.
Pop Mart’s 2024 financial results demonstrated the scale of this growth. The company reported revenue of RMB13.04 billion, equivalent to more than US$1.8 billion, with revenue outside mainland China increasing by 375.2% year on year.
Its The Monsters intellectual property, which includes Labubu, was one of the strongest contributors to this performance.
That international performance is particularly important for the long term investment case. A popular product can create a temporary sales spike, but a successful global IP can potentially generate revenue through multiple product categories, markets and collaborations.
Labubu's Supported by Scarcity
Labubu's appeal has also been supported by scarcity. Limited availability, blind box mechanics and social media exposure have encouraged collectors to keep searching for new releases.
This creates a powerful sales model because customers are not simply buying a single toy. They can become repeat buyers who return for new collections, rare editions and collaborations.
However, this is also where the biggest question around Pop Mart begins.
The market is increasingly asking whether Labubu can remain culturally relevant after the initial viral wave fades. In other words, investors want to know whether Pop Mart has built a durable IP business or whether too much of its valuation depends on one exceptionally successful character. That distinction could be critical for the next major move in the share price.
Read Also: POPMART Futures on Bitrue
Can Pop Mart Move From HK$160 Towards HK$200?
From a technical and sentiment perspective, the HK$160 area can be viewed as an important pivot in the broader recovery story. Based on the price levels provided, Pop Mart had recently traded around HK$168.80 after reaching an intraday high of HK$170.90, while its earlier low for the year was around HK$140.10.
That creates several levels for traders to watch.
The first is the HK$160 area, which could act as a psychological support zone if buyers continue to defend the recovery. Above that, HK$170 becomes an immediate resistance area. A decisive move beyond that level could strengthen the argument for a larger recovery towards HK$200.
However, simply touching HK$200 and holding it above it are two very different outcomes.
A move towards HK$200 would probably require a combination of improving sentiment and strong fundamental evidence.
Investors would want to see continued demand for Labubu, successful new releases and evidence that overseas customers are becoming a sustainable source of revenue.
International expansion could be particularly important. Pop Mart's 2024 results showed that markets outside mainland China were already growing rapidly, suggesting that the company has an opportunity to turn Labubu's popularity into a broader global retail and IP platform.
The Bull Case
The bullish scenario is straightforward. Labubu continues to attract collectors, new product launches generate fresh excitement and Pop Mart successfully introduces its characters to more international consumers.
In this scenario, investors may begin to look beyond the idea of Labubu as a short lived trend. Instead, they could view The Monsters as a valuable intellectual property franchise capable of generating recurring revenue.
The company could also benefit from collaborations, new merchandise and the expansion of other characters within its portfolio. This would reduce the perception that Pop Mart's success depends entirely on a single product line.
If these developments are accompanied by strong trading volume and improving market sentiment, HK$200 could become a realistic medium term target rather than simply a psychological price level.
The key phrase, however, is if these developments are accompanied by. A price target is never guaranteed, particularly for a stock that has already experienced significant volatility.
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The Biggest Risk: Peak Labubu and Demand Fatigue
The bearish argument is that Labubu's strongest growth phase may already have passed.
This does not necessarily mean the character will suddenly disappear. Instead, demand could gradually normalise as the novelty wears off. Collectors who rushed to buy limited products may become more selective, while casual consumers could move on to the next trend.
Secondary market prices are an important part of this discussion. When resale prices fall, the scarcity premium surrounding collectibles can weaken. That could reduce the urgency among buyers who previously believed that rare Labubu products would continue increasing in value.
For Pop Mart, this matters because the company's investment story has been closely linked to the strength of its IP ecosystem and the ability to turn cultural popularity into commercial growth.
If investors begin to believe that Labubu has reached its peak, the stock could struggle even if the company continues generating healthy revenue.
Market Needs Evidence
This is why HK$200 may be difficult to reach without a fresh catalyst. The market needs evidence that the next phase of growth is already taking shape.
Another concern is concentration risk. Recent reporting on Pop Mart's strong 2025 performance highlighted the enormous contribution of The Monsters IP while also pointing to investor worries about dependence on Labubu.
At the same time, Pop Mart has been working to expand internationally and develop other characters, which could help diversify its growth over time.
For traders, this creates a potentially volatile setup. Positive news about new releases, international expansion or collaborations could quickly improve sentiment. Conversely, disappointing sales, weaker resale prices or signs of fading consumer interest could trigger sharp reversals.
Read Also: How to Buy LABUBU Safely in 2026
What Traders Should Watch
The most important signals include:
HK$160 support: A sustained hold above this area could indicate that buyers remain interested.
HK$170 resistance: A convincing breakout could improve the technical outlook and open the way towards higher levels.
HK$200 psychological target: This is likely to attract significant attention from traders and investors.
International revenue: Continued overseas growth would strengthen the argument that Pop Mart is becoming a global IP company.
Labubu demand: New releases and repeat purchases will show whether the character still has room to grow.
Secondary market activity: Falling resale premiums could be an early warning sign of cooling speculative demand.
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Bitrue Futures Offer Another Way to Trade the Pop Mart Narrative
For crypto traders who want exposure to the direction of the Pop Mart narrative without directly buying the Hong Kong listed stock, Bitrue has listed POPMART/USDT perpetual futures, according to the information provided for this article.
This means traders can potentially take a long or short position based on their view of Pop Mart's price direction. If you believe renewed Labubu demand and improving sentiment could support a move towards HK$200, a long position may align with that view. If you expect demand fatigue and further weakness, a short position could be considered.
However, futures trading comes with substantially higher risk than simply holding an asset. Leverage can magnify both gains and losses, while sudden price movements can result in liquidation.
For that reason, traders should consider using conservative leverage, setting a clear stop loss and avoiding positions that are too large for their risk tolerance.
The practical approach is to focus on the thesis rather than chasing every price movement. If the HK$160 area holds and Pop Mart breaks through resistance with stronger momentum, the bullish case could improve. If support fails and demand concerns become more prominent, the outlook could change quickly.
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Conclusion
Pop Mart’s journey from around HK$160 towards HK$200 ultimately depends on whether Labubu can continue converting global attention into sustainable commercial growth.
The company has already demonstrated strong international momentum, but investors remain concerned about peak Labubu demand and the possibility of a slower growth phase.
HK$200 is therefore plausible, but it should not be treated as a guaranteed target. Traders looking for a more flexible way to express a bullish or bearish view can explore POPMART/USDT perpetual futures on Bitrue.
With its trading tools and crypto focused platform, Bitrue can offer a convenient way to manage market opportunities, although traders should always use sensible risk management when trading leveraged products.
FAQ
Can Pop Mart reach HK$200?
It is possible, but reaching and sustaining HK$200 would likely require strong demand, positive sentiment and continued growth in overseas markets.
Why is Labubu important to Pop Mart?
Labubu has become one of Pop Mart's most successful intellectual properties, helping drive sales, international recognition and global consumer interest.
Is HK$160 an important level for Pop Mart?
The HK$160 area can be viewed as an important psychological pivot in the scenario discussed. Holding above it could support a recovery, while a breakdown could weaken the bullish outlook.
What could stop Pop Mart from reaching HK$200?
Demand fatigue, falling resale prices, weaker Labubu sales and concerns about overdependence on one major IP could limit the stock's recovery.
Can I trade Pop Mart on Bitrue?
Bitrue offers POPMART/USDT perpetual futures, allowing eligible traders to take long or short positions on the market direction. Futures involve significant risk, particularly when leverage is used, so careful risk management is essential.
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.
Disclaimer: The content of this article does not constitute financial or investment advice.
