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(Reuters) – Shares of Houston-based Intuitive Machines fell more than 30% on Monday after the company said its Odysseus lander was lying on its side after rolling over.
The company was the first private company to land on the moon and the first from the United States since 1972, but all but one of NASA’s six science and technology payloads are up and communicating. He said he could receive it.
The company said its side payload includes a work of art consisting of a miniature stainless steel sculpture by artist Jeff Koons.
The remaining payload is expected to accomplish scientific objectives.
Intuitive stock fell 34% to $6.30 before the opening bell on Monday, more than offsetting Friday’s gains, with nearly 99 million shares changing hands, a record for the company.
On Friday, the total amount of shares traded reached $1.01 billion, exceeding the company’s market valuation of about $960 million, according to LSEG data.
The company’s stock, which went public about a year ago, is vulnerable to high levels of volatility because only 18% of its shares can be traded.
The landing could make things easier for other space-focused companies seeking investment and stable government contracts, including Rocket Lab, Astra Space and Jeff Bezos’ Blue Origin.
(Reporting by Akash Sriram in Bengaluru; Editing by Tasim Zahid)
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