Pop Mart shares on Monday suffered their biggest intraday drop since April as fears mounted that Labubu’s success was running out of steam. The Hong Kong-listed shares of the Beijing-based toy company fell as much as 8.96% in early trading before closing down 6.4%. The declines took the stock’s losses to about 10% since Monday last week, though it remains up more than 180% year-to-date. Data from Chinese resale platform Dewu showed a cotton-candy-colored Labubu keychain had dropped 30% to 160 RMB ($22) over two months. JPMorgan downgraded its rating to neutral and cut its target price 25% to 300 Hong Kong dollars ($39).