One of the top stories in the market over the last 24 hours has been Intuitive Machines’, which trades under the ticker symbol $LUNR. 📻
The space exploration company’s Nova-C cargo moon lander known as “Odysseus” became the first privately developed spacecraft to land on the lunar surface. It was also the first U.S. spacecraft to soft-land on the moon in over 50 years. 🌝
Shares had absolutely blasted off in anticipation of this success, rising from just over $2 at the start of the year to over $13 earlier this week. Despite experiencing some profit-taking, the stock rose sharply yesterday after the news broke and continued the momentum in today’s trading session.
Investors celebrated, thinking the company had finally reached the “tipping point” in its history. But nobody could have predicted it would be a literal tipping point… 🤦
News broke after the bell that the moon lander had “tipped over sideways” but was “alive and well” on the lunar surface. CEO Stephen Altemus said the vehicle is believed to have caught one of its six landing feet during its final descent and tipped over “near or at our intended landing site.”
Speculation around the mission’s supposed success whirled today, given no photo images from the landing were circulated. And so far, their suspicions have been proven right. The company is still in contact with the lander and is working to obtain images soon, but much investor trust has already been lost in the process. 📡
$LUNR shares have begun a sharp descent in after hours, falling over 30% as investors and traders assess the situation. Once again, another promising investment opportunity has been unable to stick the landing. And in this case, we do mean a literal landing… 🦿
Message activity surged on the streams, pushing the stock to the second-most newly-watched stock on our platform today. That’ll likely persist as this story develops, so be sure to add the stock to your watchlist to stay current on all the action. 👀
