Citigroup lowers SanDisk's target price from $2,500 to $2,100

Serenity noted in a report that Unitree Robotics’ implied market cap in the derivatives market stands at roughly $29.3 billion. Citing the performance of pre-IPO perpetual contracts for Cerebras and SpaceX, Serenity added that their related prices were relatively close to the respective listing opening prices. Based on Unitree’s projected IPO target valuation of $5.7 billion to $6.2 billion this month, the current derivatives implied valuation is about 370% to 414% higher, equivalent to 4.7 to 5.1 times the target. If Unitree can maintain this valuation post-listing, it could drive growth in the robotics sector. It cited robotics supply chain firms including Leaderdrive (Green Harmonic), Harmonic Drive, and Ouster, noting that industry leaders typically boost valuations of other peers in the same sector after listing, while stressing this does not constitute investment advice. Unitree is expected to proceed with its listing later this month, with the subscription period likely on August 10, and final issuance results to be announced on August 14. Agility Robotics may advance its related plans in the fourth quarter.

According to a report by the Financial Times, even after his decision to withhold too many details about interest rate strategy triggered a sharp sell-off in U.S. Treasuries, Federal Reserve Chair Walsh has stuck to his usual concise communication style. People close to Walsh say he has acknowledged making some mistakes in his first 10 weeks leading the world’s most important central bank, including failing to reinforce his core message on price stability and sowing confusion over whether his long-term plans to overhaul the Fed would impact near-term policy decisions. However, they insist these mistakes are not enough to derail Walsh’s reform agenda for the Federal Reserve. Insiders also revealed that if inflation data released in the coming weeks comes in strong and market expectations for higher borrowing costs rise accordingly, Walsh is prepared to raise interest rates at the September policy meeting. Insiders added that while the Fed chair has raised the possibility of shrinking the central bank’s $6.7 trillion balance sheet to tighten monetary policy, interest rates remain the primary tool for now, and will be used at upcoming meetings if needed.

The trader who previously spent $791K to buy 13.14M $CASHCAT($1.75M now) is now up $956K. Another trader also spent $519 $ETH($985K) to buy 9.96M $CASHCAT 12 hours ago.

According to market data from BIT (bit.com), U.S. stocks were in pre-market trading on Thursday, with storage stocks, optical communications, and semiconductor stocks all declining. The storage sector led losses: Western Digital (WDC) fell 16.06%, SanDisk (SNDK) dropped 11.09%, SK Hynix (SKHY) decreased 7.01%, Micron Technology fell 5.79%, and Seagate Technology (STX) declined 5.57%. Most semiconductor stocks trended lower: Marvell Technology (MRVL) fell 2.14%, Intel (INTC) dropped 1.89%, and Arm (ARM) decreased 1.85%. All optical communication concept stocks saw declines: Applied Optoelectronics (AAOI) fell 1.66%, Credo (CRDO) dropped 1.45%, and Astera Labs (ALAB) decreased 1.37%.

Move-to-Earn project Step App announced on Twitter that it will officially shut down after four years of operation. All services will be gradually phased out by August 21, with a reminder for users to unstake their locked tokens and settle their exchange positions prior to that deadline.

According to an announcement from Unitree Technology, the issuer and its sponsor (lead underwriter) have, based on the results of the initial inquiry, comprehensively assessed the company’s reasonable investment value, the valuation levels of peer listed companies, and the secondary market valuation of its sector, while fully considering factors including the valid subscription multiple of institutional investors, market conditions, fundraising requirements, and underwriting risks, negotiated to set the offering price at RMB 150.80 per share. No cumulative bidding inquiry will be conducted for the institutional offering portion.