Why Intuitive Machines Stock Plummeted This Week
Shares of Intuitive Machines (NASDAQ: LUNR) fell this week. The company's stock plunged 18.9% as of 3:20 p.m. ET on Friday, and was down as much as 22.3% earlier in the week. The steep decline comes amid broader market weakness, with the S&P 500 (SNPINDEX: ^GSPC) down 2.4% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) down 2.5%.The Houston-based lunar technology company saw a second mission failure of a lunar landing.Intuitive Machines had launched its Athena spacecraft in conjunction with SpaceX, successfully reaching the lunar surface. However, the lander tipped on to its side and died soon after. Athena lost power after being unable to face its solar panels toward the sun. The spacecraft was also off course, touching down roughly 150 miles from its target. Continue reading
Shares of Intuitive Machines (NASDAQ: LUNR) fell this week. The company's stock plunged 18.9% as of 3:20 p.m. ET on Friday, and was down as much as 22.3% earlier in the week. The steep decline comes amid broader market weakness, with the S&P 500 (SNPINDEX: ^GSPC) down 2.4% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) down 2.5%.
The Houston-based lunar technology company saw a second mission failure of a lunar landing.
Intuitive Machines had launched its Athena spacecraft in conjunction with SpaceX, successfully reaching the lunar surface. However, the lander tipped on to its side and died soon after. Athena lost power after being unable to face its solar panels toward the sun. The spacecraft was also off course, touching down roughly 150 miles from its target.
