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Unitree Shares Surge 500% in Shanghai Debut After Humanoid Robot Reveal

Unitree Shares Surge 500% in Shanghai Debut After Humanoid Robot Reveal
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Unitree, the Hangzhou-based humanoid-robot maker, saw its shares surge about 500% on their Shanghai Stock Exchange debut, after the company showcased its new 'Superman' humanoid robot. The stock opened as much as 629% above its IPO price, trading around 883.87 yuan, up from 150.8 yuan. That put the company's valuation near 445 billion yuan.

The Superman reveal

The rally came on the first day of trading for Unitree, which listed on the Shanghai Stock Exchange. The surge followed the showcase of the new 'Superman' humanoid robot model. Unitree is a Hangzhou-based maker of humanoid robots, and the new model was presented ahead of the company's market debut.

A valuation near 445 billion yuan

At the current trading price, Unitree's market value is nearly 445 billion yuan. That's a significant number for a company that just went public. The IPO price was 150.8 yuan per share, and the stock is now trading at 883.87 yuan, a more than fivefold increase. The stock opened as much as 629% higher than the IPO price, before settling to trade around 883.87 yuan.

The question now is whether the Superman robot can deliver on the promise that sent Unitree's shares up 500% on day one. The company's valuation, based on the debut price, will be tested as it begins trading as a public company.