China · CoinDesk
Hyperliquid traders see 4x upside from IPO price
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
Crypto traders are betting that Unitree Robotics will be worth more than four times its IPO valuation when the Chinese robot maker debuts on the public markets.
Key facts
- Unitree priced its Shanghai STAR Market offering at 150.80 yuan ($22.37) per share, valuing the company at roughly $9 billion
- The contracts traded 1.6% apart on average when both markets were active, and traded near $92 and $94 most recently, translating to a more than 300% upside from the IPO price
- Revenue reached $253 million last year, up 335%, while humanoid robot shipments topped 5,500, according to Allium's report
- An opening around $45, double the IPO price, would still be about 52% below the current perp price and could liquidate roughly 33% of long exposure, the analysts said
Summary
Hyperliquid traders are pricing Unitree near $93 a share, more than four times its $22.37 Shanghai IPO price. Pre-IPO perpetuals let traders speculate on a company's eventual market price without owning its shares. The premium creates a potentially volatile convergence when Unitree starts trading on the stock market, with leveraged positions vulnerable to liquidation, Allium analysts pointed out. Unitree priced its Shanghai STAR Market offering at 150.80 yuan ($22.37) per share, valuing the company at roughly $9 billion.