Intuitive Machines’ Stock Surges 50% to Trade Above SPAC Debut Price as Company’s Lunar Lander Approaches the Moon

Shares of Intuitive Machines jumped this week, surpassing their post-SPAC debut price, as the company's first lunar lander mission completed further milestones as it approached the moon.

Intuitive Machines' stock surged as much as 65% in trading Tuesday to an intraday high of $12.05, north of the $10.03 a share price that shares traded at after the company completed its merger with Inflection Point Acquisition in February 2023.

Intuitive Machines supplies space products and services to support sustained robotic and human space exploration. 

The stock closed the day up 50% at $10.99 per share.

As recently as last month, the stock was trading near $2 a share. Since its inaugural moon mission launched last week, the company's share price has more than doubled, CNBC reported.

The mission, known as IM-1, launched on a SpaceX rocket and has since completed several of the 16 milestones that Intuitive Machines identified as key to the mission's success. One of the key milestones came when the lander, named “Odysseus,” successfully fired its engine for the first time. The lander has used the engine to adjust its trajectory and remain on . Read more.

Source: Intuitive Machines' Stock Surges 50% to Trade Above SPAC Debut Price as Company's Lunar Lander Approaches the Moon