Shares of Chinese humanoid robot maker Unitree have fallen about 45% since its Shanghai debut last week, raising concerns over speculative excess, retail investor losses and weaknesses in China’s initial public offering system, Reuters reported.
Unitree, one of the world’s largest producers of quadruped and humanoid robots, surged more than fivefold on its first trading day on the Shanghai Stock Exchange. The rally briefly pushed its valuation to about $66 billion before the company lost roughly $30 billion in market value during the subsequent selloff.
