Unitree's Shanghai STAR Market debut surges 460% then plunges 45%
Business
Unitree, a Chinese robotics company, had a wild ride on the Shanghai STAR Market: its shares shot up 460% on its debut, briefly valuing the company at $66 billion.
But just as fast, the hype faded and the stock crashed 45%, wiping out $30 billion in value over three consecutive days.
Analysts warn of China IPO bubbles
This roller coaster has analysts worried about risky bubbles forming in China's IPO scene, especially with all the excitement around AI and robotics.
On top of that, Unitree's profits have actually dropped by more than half this year, making people question whether these flashy tech IPOs are really built to last or just riding a wave of hype.