The fun part about stock trading comes from observing life—paying close attention to everything around you. Take investing in Pop Mart, for example. I purely relied on observation and experience. A few years ago, I bought in at a few dozen bucks because I noticed Lisa suddenly boosted sales and opened up the overseas market. The concept of 'going global' is a major trigger point for Chinese stocks. Later, the stock kept climbing with only good news and no bad news, making it easy to hold onto. Around 260, I started selling off slowly because the FOMO had peaked—everyone was rushing in to buy Labubu. Plus, the media was hyping up the logic behind Ma Gang's investment. Shareholders even started speculating on other IPs like Crybaby. During this recent crash, I couldn’t resist and started DCA-ing (dollar-cost averaging), but I noticed a fatal issue. In the days after the earnings report, even Duan Yongping was hyping it up. I spent my free time watching Pop Mart’s live streams across platforms, and they were selling Labubu—stuff that used to sell out instantly—all day long. On Pinduoduo’s "10 Billion Subsidy," the price dropped to just over 50. This means the primary and secondary markets are severely inverted (original price was over 90). In conclusion, Pop Mart is definitely not a good investment target right now.