Just weeks ago, Pop Mart founder Wang Ning was riding high with a net worth of $27 billion, richer than Silicon Valley’s Peter Thiel, thanks to a rabbit-eared plush called Labubu. The “ugly-cute” doll has been flaunted by celebrities from David Beckham to Blackpink’s Lisa, pushing resale prices to dizzying heights. But once the “cool hunters” move on, Wall Street does too, and Wang is finding that out the expensive way. Since Pop Mart’s peak on Aug. 26, the stock has plunged about 20$13 billion i ...