Unitree shares fall 45% after 629% surge post IPO, wipe out $30 bn

Unitree shares have crashed 45% since their debut last Wednesday, erasing roughly $30 billion in market value. The company's shares had surged 629% after it raised $904 million in its IPO, making it the first publicly traded humanoid robot maker in mainland China. The sharp reversal has triggered concerns over bubble risks, retail investor losses and flaws in IPO system.