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POP MART Tumbles 5% as People's Daily Calls for Tighter Regulation of Blind Cards & Boxes
Recommend 32 Positive 53 Negative 63 |
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As China's official media published an article to call for stronger regulation of blind cards and blind boxes, POP MART (09992.HK) sank by 6% at open against the market trend this morning (20th). It last traded at HKD236.4, down 4.9%. Based on the opening low of HKD233.2, the company's stock price has already fallen by more than 17% from last week's high of HKD283.4. Without naming any specific companies, People's Daily published an article saying that while blind cards and blind boxes have rapidly gained popularity among children and teenagers, irrational spending is becoming more and more common. The article suggested that relevant authorities should introduce strict regulations for blind cards and blind boxes and fortify protections for minors with measures such as further refining regulatory rules and adding technical supervision measures. AAStocks Financial News |
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