Key takeaways
- Chinese EV battery company UPower saw highs of 1100% at one point on its Nasdaq-listed IPO
- Chinese IPOs have become the hottest market, raising $14.5 billion this year so far
- New regulations from China mean we could see more IPOs coming, but the microcap trend is a concerning one for investors
Wall Street witnessed a rollercoaster ride last week as Chinese EV battery company UPower debuted on the market, hitting stratospheric highs of 1100% before crashing back down. The stock is the latest in a series of Chinese IPOs that have burned brightly before fizzling out in a few days, prompting concern from Wall Street.
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