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Intuitive Machines (LUNR) stock is falling Wednesday as the company gets closer to landing on the moon. The company plans to launch its lunar probe, Odysseus, on a SpaceX rocket. Intuitive Machines hopes to become the first private company to successfully land on the moon.
Yahoo Finance anchors Rachelle Akuffo and Akiko Fujita break down the company’s latest developments and what they mean going forward.
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor’s note: This article was written by Nicholas Jacobino
video transcript
Akiko Fujita: It’s time for today’s trend ticker. And today, we’re looking at Intuitive Machines stock. Its stock is currently down about 6% as the Texas-based aerospace company inches closer to landing on the moon. Last week, Intuitive launched its Odysseus lunar probe on a SpaceX rocket.
The company aims to become the first private company to successfully land on the moon. Strong word that they are now on track to land hopefully early tomorrow evening.
That’s really cool, Rachel. They tweeted a photo of the moon, which is about 62,000 miles away. And, of course, this is the second attempt by an American commercial company to successfully land on the moon. Unfortunately, Astrobotic wasn’t able to do that last month.
But there is a long pipeline of lunar modules aimed at landing on the moon and making the journey there. I appreciate intuitive machines.
Rachel Akuffo: That’s true. And the stock price has risen considerably prior to this time. I think many of them are excited not only about the possibility of landing on the moon, but also about the exciting new frontiers here. However, there are also some bearish sentiments. Probably short cover is working.
But I’m looking forward to seeing it. I hope they have a successful landing. This is not something we see on a daily basis, and it’s exciting to see commercial companies in particular entering this space.
But it’s interesting to look at where the share price is trading, given when it first rose.
Akiko Fujita: Yesterday it was up 65%.
Rachel Akuffo: that’s right.
Akiko Fujita: Rachel, I think you can expect some sales there as well.
Rachel Akuffo: surely. There is something to note here. But there are certainly high hopes.
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