Intuitive Machines, a Texas-based lunar company, has reported robust progress in its moon mission, causing its stock to soar for the second consecutive day. The company recently launched its inaugural cargo mission, known as IM-1, on a SpaceX rocket. In an update, Intuitive Machines revealed that the mission remains on track but that the first attempt at igniting the lander’s engine has been delayed. Despite this setback, the company assured investors that the lander is in “excellent health.”
Following the successful launch of the IM-1 mission, Intuitive Machines’ stock jumped by 35% on Thursday and gained a total of 47% by Friday’s close. However, the stock is still trading below its post-SPAC merger debut pricing from a year ago. Andrew Chanin, CEO of ProcureAM, highlighted the volatility that can be expected with space companies, especially smaller ones like Intuitive Machines. He expressed optimism for the company’s success and its potential to attract more investors to the space industry.
The IM-1 lander, which carries both government and commercial research payloads, is expected to spend approximately eight days traveling to the moon before attempting a landing on February 22nd. The moon has become a focal point for investors, as success in lunar missions by commercial businesses, NASA, or foreign governments is likely to encourage increased focus and spending on lunar exploration.
Overall, Intuitive Machines’ progress in its moon mission has generated excitement among investors, leading to a significant surge in its stock price. With the increasing interest in lunar exploration, the company’s success could pave the way for further advancements in the space industry.
