China’s Hottest Robot Stock Unitree Just Surged 500% on Day One

TLDR

• Unitree stock surged as much as 629% on its first day of trading on Shanghai’s STAR Market, settling around 500% higher by midday.
• The IPO raised around $904 million, with shares priced at 150.80 yuan ($22.36) each.
• The company is now valued at around $50 billion, making founder Wang Xingxing worth over $12 billion on paper.
• The US FCC banned imports of Unitree’s future robot models in July over national security concerns, cutting off a key market.
• At least six more Chinese humanoid robotics firms are preparing to go public, with Unitree’s debut expected to set the tone for their valuations.

Unitree had one of the most explosive stock market debuts in recent memory. The Chinese humanoid robot maker opened on Shanghai’s STAR Market on Wednesday with its stock surging as much as 629% above its IPO price of 150.80 yuan ($22.36). By midday, it was still up nearly 500%, closing the morning session at 883.87 yuan and valuing the company at roughly $50 billion.

🇨🇳BREAKING: Chinese humanoid robot maker Unitree surges over 600% in its Shanghai market debut.

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