Trading for shares of Intuitive Machines surged on Thursday as the space company embarked on its inaugural mission to the moon’s surface earlier in the day.
A SpaceX rocket successfully launched Intuitive’s IM-1 mission, carrying a cargo lunar lander loaded with research destined for the moon. Intuitive anticipates making a landing attempt next week.
Intuitive’s stock soared by 34.5% in trading, closing at $6.70 per share. Despite nearly doubling in value this year, the company, which went public through a SPAC merger last year, still trades at approximately half of its debut price.
Prior to the launch, Intuitive Machines CEO Steve Altemus assured that shareholders should have confidence in the company’s resilience, emphasizing,
“We built resiliency into our business so that we’re not a one-off kind of company that built a lunar lander and is going to throw it to the moon.”
Altemus stressed that while profitability is a goal, the company’s mission extends beyond financial gains, focusing on achieving significant milestones while fostering innovation within the business.
