When Astroscale Holdings began trading in Tokyo a year ago, excitement over the Japanese space-debris pioneer was riding so high that the stock surged 62%, making it a billion-dollar company.
That lasted one day. The value of its shares have since halved after those lofty expectations soured, with the company announcing delays of some projects and lowering some of its earnings estimates.
Astroscale is now the worst performer among Tokyo’s 10 biggest listings in the past year and it’s trading below its initial public offering price, data shows. While the company says the setbacks are temporary, its stock performance illustrates how fast investor patience can run out even for frontier industries like space.
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