Euglena listed on the Tokyo Stock Exchange in December 2012. Short-seller Well Investments published a report in January 2017 alleging that its share price was over-valued with more than 50% downside to a target price of ¥500 per share. The report questioned whether Euglena would succeed in commercializing algae-based jet fuel, especially since the price of crude oil had plunged making more expensive alternatives less attractive. Euglena's share price has fallen 30% since the report but never breached the ¥500 level. There were no allegations of fraud or misconduct.

Last updated April 2022

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