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Popmart announced its full-year financial report, with stellar performance but a 20% plunge in stock price.
Looking back now, the intense PR campaigns from June to August last year, the founder legends, and the business narrative packaging were essentially aimed at creating peak liquidity—when retail investors' attention becomes saturated, it becomes the most comfortable exit window for institutions, with the stock price completing its final surge to the top.
What is truly worth observing is not the stock price itself, but the frequency with which this "consumer goods + capital narrative" model reappears among Chinese concept stocks. From Perfect Diary to Popmart, the tactics are remarkably similar: building an emotional moat with cultural symbols, hedging performance uncertainty through PR density, and ultimately harvesting at the peak of liquidity.
Stories like this happen over and over again.