Moon Lander Crash Wipes Out Half of Startup Ispace’s Value
- Stock fall erases about $600 million in value in three days
- Company engineers say lander probably crashed on lunar surface
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Tokyo-based Ispace Inc.’s shares slumped for the third straight day after the failure of its moon lander, erasing about $600 million, or almost half, of the company’s value.
The stock slid as much as 16% on Friday after falling by the daily limit on both Wednesday and Thursday. Earlier this week, the company lost contact with its lander bound for the moon and said it probably crashed on the lunar surface.