Unitree shares have plunged 45% since their blockbuster Shanghai debut, raising concerns over speculative excess and retail investor risks. The humanoid robot makers stock surged 460% above its IPO price on listing day, briefly valuing it at $66 billion. The sharp reversal has intensified questions over IPO pricing and technology valuations.

Humanoid robot maker Unitree’s 460% surge in its Shanghai stock market debut on Wednesday was the latest in a series of eye-watering first trading-day pops fetched by some recent…

China’s robot boom hits a frenzy as Unitree’s IPO jumps to a $50 billion valuation, raising questions about revenue, risk and how fast the humanoid market can mature.