Robot maker Unitree is going public. Hyperliquid traders see 4x upside from IPO price

MarketsRobot maker Unitree is going public. Hyperliquid traders see 4x upside from IPO priceHyperliquid traders value Unitree at nearly $38 billion versus $9 billion at its IPO, leaving leveraged bets vulnerable when trading begins, Allium analysts said.By Krisztian Sandor|Edited by Aoyon Ashraf1 hr ago3 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowHyperliquid 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.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.Unitree priced its Shanghai STAR Market offering at 150.80 yuan ($22.37) per share, valuing the company at roughly $9 billion. Pre-IPO perpetual contracts trading through Hyperliquid, however, were between $92 and $94 on Friday, equivalent to a valuation of about $38 billion, blockchain analytics firm Allium said in a report.The premium reflects lofty expectations for one of China's closely watched robotics companies. Founded in Hangzhou in 2016, Unitree makes four-legged and humanoid robots for research, industrial and consumer applications. Revenue reached $253 million last year, up 335%, while humanoid robot shipments topped 5,500, according to Allium's report.The firm’s IPO was reportedly 8000 times oversubscribed by retail traders, with trading expected to begin between Aug. 17 and Aug. 21.Pre-IPO perpsUnitree's public-market debut is also shaping up to be the latest in a corner of crypto derivatives that has recently expanded rapidly: pre-IPO perpetual futures.Hyperliquid rose to prominen…

Robot maker Unitree is going public. Hyperliquid traders see 4x upside from IPO price

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