Unitree Robotics IPO Predicted to Pop More Than 300%
Crypto futures contracts tracking Unitree Robotics have exploded ahead of its IPO on Wednesday, suggesting it's worth more than four times its initial valuation.
The perpetual futures contracts on the Hyperliquid blockchain were trading at about $100 on Tuesday, a day before Unitree's debut on the Shanghai Stock Exchange's tech-focused Star Market, implying a valuation of $40.5 billion.
This is not the first time that similar contracts have foreshadowed a stock surge. Perpetual futures for CXMT, the memory-chip maker that was the first mainland Chinese company to get a so-called 'perp' on Hyperliquid, also hinted at a big gain when it debuted last month.
Unitree Robotics, the humanoid robot maker, is set to make its market debut on Wednesday, with an initial public offering (IPO) valued at $9 billion. However, according to crypto futures contracts, the company's worth could be significantly higher than that.