On July 19th, Bubble Mart fell for 4 consecutive trading days after the opening. Earlier on July 18, the intraday price fell by more than 18%, hitting a record low of HK$20.9 per share. The stock price has fallen by nearly 50% this year.
As of today’s close, Bubble Mart’s latest share price was HK$22.25 per share, which was 80% lower than the historical high of HK$112.6 per share.
The latest market value of Bubble Mart is 30.8 billion Hong Kong dollars, which is close to the market value of 150 billion Hong Kong dollars from the peak period, and has shrunk by more than 100 billion Hong Kong dollars.
The reason for Bubble Mart’s recent plunge is that the earnings forecast was less than expected.In this regard, the board of directors of Bubble Mart believes that the fluctuation of the group’s performance is due to the impact of the epidemic, which has affected the sales of offline stores. In addition to the impact of logistics timeliness, online sales have also experienced some declines. In addition, the expansion of Bubble Mart’s business in the first half of the year led to an increase in expenses compared with the same period last year, which also accelerated the decline in profits to a certain extent.
For business operations, Bubble Mart has always wanted to get rid of the label of “blind box company”. CEO Wang Ning has repeatedly emphasized: “Trend play is our main business, and blind box is just a tool.”
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