The A-share IPO is playing out a “sell at the peak immediately” script—it’s being repeated again and again.
Unitree Technology’s A-share listing was priced at 1,100 yuan. In just 17 trading days, the stock price has already fallen below 500 yuan, with a cumulative drop of 55%.
From the perspective of the offering price, Unitree Technology’s valuation is still within a reasonable range. But after it went public, the wild frenzy of secondary-market trading has created a massive premium bubble. To describe the current行情 in terms of overinflated valuations and speculative hype would be putting it mildly.
Looking at overseas capital markets such as Hong Kong and the U.S., it is extremely rare for the first day of an IPO to see gains of several times. Not to mention a 5x, 8x, or even 10x speculative surge—getting the stock price to double is also hard to find. In fact, a new issue trading below its offering price is the norm.
A high valuation divorced from fundamentals is a celebration for capital, but a shackle for ordinary investors. The market’s one-sided tolerance of this kind of speculative trading—hiding behind the guise of “market-based pricing”—lures retail investors into the game with the gimmick of “big-money lottery tickets,” and then loudly congratulates the bubble of high premiums as if it were an achievement.
In this feast, only the capital holding the chips truly profits. Once this cycle of speculation kicks off, the endgame for the stock price—its decline—has in fact been decided long ago.
Behind it all, it’s not only shortcomings in the trading system. It’s also the amplification of market sentiment, a real reflection of human greed in the capital markets.
#宇树科技 #宇树机器人 #宇树科技上市首日涨629% $NVDAB
$BTC
$ETH
Unitree Technology’s A-share listing was priced at 1,100 yuan. In just 17 trading days, the stock price has already fallen below 500 yuan, with a cumulative drop of 55%.
From the perspective of the offering price, Unitree Technology’s valuation is still within a reasonable range. But after it went public, the wild frenzy of secondary-market trading has created a massive premium bubble. To describe the current行情 in terms of overinflated valuations and speculative hype would be putting it mildly.
Looking at overseas capital markets such as Hong Kong and the U.S., it is extremely rare for the first day of an IPO to see gains of several times. Not to mention a 5x, 8x, or even 10x speculative surge—getting the stock price to double is also hard to find. In fact, a new issue trading below its offering price is the norm.
A high valuation divorced from fundamentals is a celebration for capital, but a shackle for ordinary investors. The market’s one-sided tolerance of this kind of speculative trading—hiding behind the guise of “market-based pricing”—lures retail investors into the game with the gimmick of “big-money lottery tickets,” and then loudly congratulates the bubble of high premiums as if it were an achievement.
In this feast, only the capital holding the chips truly profits. Once this cycle of speculation kicks off, the endgame for the stock price—its decline—has in fact been decided long ago.
Behind it all, it’s not only shortcomings in the trading system. It’s also the amplification of market sentiment, a real reflection of human greed in the capital markets.
#宇树科技 #宇树机器人 #宇树科技上市首日涨629% $NVDAB
$BTC
$ETH
