Unitree Robotics shares have tumbled 50% from their intraday peak, marking one of the steepest declines for a newcomer on Shanghai’s Star Board. The stock fell as much as 4.3% to 546.51 yuan Wednesday, leaving it more than 50% below its intraday high of 1,100 yuan reached on its debut day. Shares soared as much as 629% in its Shanghai debut last month, when investors piled into one the closely watched initial public offering.

That burst briefly giving the company a market value of more than 340 billion yuan ($51 billion). The reversal follows a massive debut pop that captured significant market attention. Unitree Robotics, known for its G1 humanoid robot and As2 robot dogs, showcased its products at the Embodied Intelligent Robot Industry Exhibition in Shanghai on Aug. 12.

The sharp decline underscores volatility in newly listed tech stocks on China’s Star Board, where investor enthusiasm can reverse rapidly after initial hype.