On June 12, Intuitive Machines fell 8.31% in regular trading, trading at $27.4/share, with turnover of $92.92 million. The decline was driven by a broad space sector pullback on SpaceX's listing day, compounded by ongoing concerns over the company's previously disclosed up-to-$500 million Class A common stock offering plan.
The space sector experienced a sweeping selloff, with Virgin Galactic plunging over 25%, Redwire falling over 9%, and Rocket Lab declining over 6%. The sector-wide retreat came just one day after space stocks had rallied sharply on SpaceX IPO enthusiasm, with SpaceX having secured over four times oversubscription totaling more than $250 billion in demand. The reversal suggests a classic buy-the-rumor-sell-the-news pattern as the landmark listing materialized.
For Intuitive Machines specifically, the dilution overhang from its shelf offering of up to $500 million in shares through an at-the-market program has persistently weighed on sentiment over recent sessions. The stock has fallen from above $40 to current levels amid these multiple headwinds, despite the company maintaining $1.1 billion in order backlog and reporting Q1 revenue nearly triple the year-ago period.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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