Humanoid Robot Maker Unitree Soars 629% in Trading Debut

Gizmodo may not specialize in international finance, but the recent IPO of Unitree, a company based in Hangzhou, China, is generating significant buzz. According to Bloomberg, Unitree’s stock surged an astonishing 629% on its inaugural day of trading on Shanghai’s STAR Market.

This remarkable spike is likely fueled by the company’s recent announcement of a cutting-edge humanoid robot that can outpace Usain Bolt, albeit with a rather amusing gait reminiscent of Shaggy fleeing from a man in a gorilla suit:

Unitree’s initial public offering (IPO) was priced at 150.8 yuan, but during trading, the stock price skyrocketed to 1,100 yuan.

This significant price surge is noteworthy by any measure. A similar instance that comes to mind is the IPO of VA Linux, known for its Linux-compatible hardware, which experienced a 698% increase on its first trading day back in 1999, during the height of the dot-com boom. VA Linux has undergone several name changes and is currently owned by GameStop. This historical context may be relevant for Unitree as it celebrates its impressive debut.