Intuitive Machines (LUNR) Stock Rises as First Lunar Mission Begins


A SpaceX Falcon 9 rocket carrying the Nova-C lander for the IM-1 mission launches from pad 39A at Kennedy Space Center at 1:05 a.m. EDT on February 15, 2024 in Cape Canaveral, Florida.

Pablo Hennessy | Anadolu | fake images

Actions of Intuitive machines skyrocketed in the early hours of Thursday, as the space company began its first mission to the moon's surface earlier in the morning.

A SpaceX rocket successfully launched Intuitive's IM-1 mission. The lunar cargo lander, loaded with research, is headed to the Moon, and Intuitive hopes to make a landing attempt next week.

Intuitive shares are up 25% in trading from their previous close at $4.98 per share. The company went public via a SPAC merger last year and, despite nearly doubling so far this year, is trading at about half the stock's debut price.

Ahead of the launch, Intuitive Machines CEO Steve Altemus told CNBC that shareholders should be assured that “we build resilience into our business so that we're not some kind of one-size-fits-all company that built a lunar lander and is going to throw on the ground.” moon.”

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“You can make money in many ways, but it's not just about making money. It's about achieving something while running a business and innovating,” he said.

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