Flying-motorcycle maker loses altitude in stock debut

Aerwins Technology Inc.'s stock fell 56% in its stock-market debut after Pono Capital completed its acquisition of the battery-powered flying vehicle...

Aerwins Technology Inc.’s stock lost about 56% of its value on Monday after the blank-check company Pono Capital completed its acquisition of the maker of battery-powered flying motorcycles.

The stock fell to $5 a share on Monday after 99%... Aerwins Technology Inc.’s stock lost about 56% of its value on Monday after the blank-check company Pono Capital completed its acquisition of the maker of battery-powered flying motorcycles. The stock fell to $5 a share on Monday after 99% of Pono Capital’s shareholders opted to redeem their stock rather than keep shares of the combined company, Bloomberg reported.

Shuhei Komatsu, who was formerly the CEO of Aerwins Inc., is now CEO, chair and board member of Aerwins Technology Inc.

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