Shares of Intuitive Machines (LUNR) plummeted 5.12% in Thursday's intraday trading, as investors weighed the risks associated with the company's upcoming lunar missions.
The space exploration company, which completed a successful lunar landing mission last year, is gearing up for its IM-2 mission scheduled for early 2025. This mission aims to analyze subsurface materials for water ice by drilling and using a mass spectrometer on the Moon's south pole.
While Intuitive Machines has secured several lucrative contracts from NASA, including a $116.9 million deal for the IM-4 mission and a potential $4.82 billion Near Space Network contract, the company's future success hinges on the successful execution of these complex missions. Investors may be exercising caution ahead of the IM-2 launch, as any setbacks could potentially impact the company's growth prospects and backlog.
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