US Markets
Thursday, February 15th, 2024 4:10 pm EDT
Key Points
- Intuitive Machines’ shares surged in early Thursday trading as the company initiated its inaugural mission to the moon’s surface.
- SpaceX successfully launched Intuitive’s IM-1 mission, featuring a cargo lunar lander loaded with research materials destined for the moon, with a landing attempt expected next week.
- Despite experiencing a 25% spike in trading, Intuitive’s stock later settled at around a 14% increase from its previous close at $4.98 per share. The company, which went public through a SPAC merger last year, has nearly doubled in value this year but still trades at approximately half of its debut price. Additionally, CEO Steve Altemus emphasized the company’s focus on resilience and innovation beyond the singular lunar mission, highlighting the broader objectives of achievement and business advancement.
Intuitive Machines, a space company, witnessed a significant surge in its stock price during early trading on Thursday following the commencement of its inaugural mission to the moon’s surface earlier in the day. The IM-1 mission, launched successfully aboard a SpaceX rocket, features a cargo lunar lander loaded with research materials destined for the moon, with a landing attempt anticipated for the upcoming week. Intuitive’s stock soared by as much as 25% in trading, although it later moderated to around a 14% increase from its previous closing price, settling at $4.98 per share. Notably, the company had gone public via a SPAC merger the previous year and, despite nearly doubling in value since the beginning of the current year, still trades at approximately half of its debut price. Prior to the launch, Intuitive Machines CEO Steve Altemus emphasized the company’s focus on resilience, assuring shareholders of their strategic approach to business beyond a singular lunar mission. Altemus emphasized that while profitability is a consideration, the mission’s significance lies in the pursuit of achievement, innovation, and the advancement of their business objectives. This emphasis underscores Intuitive’s commitment to not only financial success but also to pushing the boundaries of space exploration and technological innovation.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/02/15/intuitive-machines-lunr-stock-first-moon-mission-begins.html
