Top mover alert: PopMart rebounds 7.8% to reverse yesterday's 8% drop on 3Q sales beat
🔼 $POP MART(09992)$ shares opened 7.8% higher to HKD 270 this morning at 930AM, reversing most of yesterday's 8.1% loss, after the company reported better than expected third quarter sales growth of 245% to 250%
📉PopMart shares had suffered their worst single day drop since April with its 8.1% plunge to HKD 250.40 yesterday, ahead of the company's business update
✳The drop had attracted some buying for trending PopMart call warrant $PopMart MB eCW260203(FRIW.SI)$ (https://warrants.com.sg/tools/livematrix/FRIW) which opened up 35% to SGD 0.073 followng PopMart's +7.8% gap up
🆕The third quarter was when PopMart released a new series of its popular Labubu dolls
🌐Sales in overseas markets surged as much as 370% compared to the 190% growth in mainland China
🗓Analysts believe this latest sales figure improves earnings visibility into the peak sales season in the December quarter with expected themed product launches
👥Analysts polled by Bloomberg have 40 "buys" on the share, 3 "holds" and 1 "sell" with a 12-month target price of HKD 372.60
✴As of 933AM, PopMart shares are up 6% to HKD 265.40. Those who believe that Popmart shares may give up its strong gains can consider using trending PopMart put warrant $PopMart MB ePW251202(NNWW.SI)$ (https://warrants.com.sg/tools/livematrix/NNWW) as a hedge
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