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China issues a warning on mystery box toys, Pop Mart's stock price experiences a big dump.
According to Gate News bot, as reported by Bloomberg, after official Chinese media commented on calling for stricter regulation of companies providing "blind boxes" and "mystery boxes," the stock price of Pop Mart International Group Ltd. experienced a big dump in Hong Kong.
Shares of the Beijing-based toy maker extended their losses on Friday after plunging 5.3 percent on Thursday. Shares of Bloks Group Ltd., which sells similar products, also fell 7.1% at one point.
The article states that state media, in its commentary, quoted legal experts saying that China should further improve regulation of "blind cards" and "mystery boxes," as some existing business models easily entice minors to become addicted to purchasing these products.