(This may have been tried in the past; in the post "10 years of PyPy" it's mentioned that there was once a JavaScript backend but it was removed because it was a horrible idea: http://morepypy.blogspot.com.au/2013/02/10-years-of-pypy.htm...)
[1] https://github.com/sq/JSIL/wiki/JavaScript-Performance-For-M... [2] https://bugzilla.mozilla.org/show_bug.cgi?id=885526
lua.vm.js is running at 50% of Lua, not LuaJIT. Add to that that you can't touch the DOM from asm, and the ported VM basically has it's own heap and no way to collect cycles between Lua and JS and it's not a good solution. Much better to rely on the JS VM for memory management.
It's possible, of course, but I've never seen it. And I certainly haven't found any way to achieve it with a compiler. If you have, let me know...