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.