Unitree IPO, Hyperliquid trader pricing around $93, more than 4 times the issuance price in Shanghai

Unitree is a robotics manufacturer, and Hyperliquid traders have priced its stock at around $93, which is approximately 4.16 times the Shanghai IPO issuance price of $22.37. The perpetual contracts before the IPO allow traders to speculate around the company's eventual market price without holding the company's stock.

Analysts at blockchain data analysis firm Allium point out that after Unitree starts trading, the related premium may experience significant price convergence with volatility, and leveraged positions may be liquidated.