Pop Mart (09992.HK) shares surged 5.67% during Monday's intraday trading session, reaching a new high as investors responded positively to the company's recent success in the US market.
The significant uptick in Pop Mart's stock price comes on the heels of reports that the company has claimed the top spot on TikTok Shop US in April. This achievement represents a remarkable leap of 18 places month-on-month, with estimated sales ranging between USD 6-7 million. The company's success on the popular social media platform has allowed it to outperform well-established players in the beauty and health sectors, including Medicube and Tarte Cosmetics.
Analysts attribute Pop Mart's impressive performance to the growing demand for collectibles and IP-driven merchandise. The company's ability to capitalize on these trends and successfully penetrate the US market through TikTok's e-commerce platform has evidently bolstered investor confidence. As Pop Mart continues to expand its global footprint and leverage popular social media channels, market observers will be closely watching to see if this momentum can be sustained in the coming months.
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