Shares of Unitree Robotics experienced a massive surge in their Shanghai trading debut on Wednesday, marking an impressive 629% increase from their IPO price.
The shares of the humanoid robot maker opened at 1,100 yuan ($163.12), pushing the company’s market capitalisation to approximately 445 billion yuan ($66 billion). Despite an initial pullback, the stock maintained a steady position at 883.9 yuan ($131.08) per share by midday, holding a market capitalisation of around 357 billion yuan ($52.94 billion), reported the South China Morning Post.
