Unitree Stock Explodes 629% on Shanghai Debut

Unitree Robotics' stock opened 629% above its IPO price in Shanghai on Wednesday, surpassing even the most optimistic predictions from crypto derivatives traders.

The Hangzhou-based company raised about 6.1 billion yuan ($905 million) and saw its stock open at 1,100 yuan against an offer price of 150.8 yuan before paring gains to 968.1 yuan.

This significant rally was anticipated by perpetual futures tracking Unitree, which changed hands near $100 on Hyperliquid on Tuesday, implying a valuation of nearly $40.5 billion according to Bloomberg.

While the offering itself valued the robot maker at around $9 billion, this implied a first-day gain of roughly 347% for investors, significantly undershot by the actual open price.