Pop Mart shares hit record highs after reporting a 400% profit surge on Labubu craze, upbeat guidance, and global expansion plans.

Pop Mart, the Chinese company behind the Labubu franchise, has sold $670 million worth of related products this year—more than iconic US toy lines Barbie and Hot Wheels.

Labubu is a quirky little creature from Hong Kong artist Kasing Lung’s The Monsters series. The figures took off when POP MART began selling them in blind boxes sealed packs, where you only find out which character you got after opening it. The surprise, the odd-cute design, and limited drops turned Labubu into a collector favorite.

From now until Aug. 22, daily Labubu stock drops authenticated by StockX will go live on Walmart's website — here's how to get one

Grownups get thrills from opening these collectibles they buy without knowing what they’re getting – but experts warn the craze is akin to gambling

Walmart just slashed the price on one of Pop Mart's most sought-after Labubu collections, and dedicated collectors are taking notice.