Unitree Stock Opens 629% Higher After Crypto Traders Underpriced Its Debut
Unitree Robotics stock opened 629% above its IPO price in Shanghai on Wednesday, overshooting the valuation crypto derivatives traders had priced into pre-IPO perpetual futures. The Hangzhou company raised about 6.1 billion yuan, or $905 million. Its stock opened at 1,100 yuan against an offer price of 150.8 yuan, then pared gains to 968.1 yuan. The post Unitree Stock Opens 629% Higher After Crypto Traders Underpriced Its Debut appeared first on BeInCrypto.
Key Takeaways
- Unitree Robotics stock opened 629% above its IPO price in Shanghai on Wednesday, overshooting the valuation crypto derivatives traders had priced into pre-IPO perpetual futures.
- The Hangzhou company raised about 6.1 billion yuan, or $905 million.
- Its stock opened at 1,100 yuan against an offer price of 150.8 yuan, then pared gains to 968.1 yuan.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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