Intuitive Machines, a Texas-based lunar company, has seen a surge in its stock price following the successful launch of its inaugural cargo mission, known as IM-1. The company’s moon lander mission, named “Odysseus,” was deployed from SpaceX’s Falcon 9 rocket and is now on its way to the moon.
In an update provided by Intuitive Machines, the company stated that the lander is in excellent health. The batteries have been fully charged, and although there was a minor issue with the spacecraft’s navigation system, it has been resolved through a software update. These positive developments have led to a significant increase in the company’s stock price.
Intuitive Machines’ stock jumped as much as 30% in early trading on Friday, and although it later pared gains, it is still up about 16% from its previous close. Since the launch of the IM-1 mission, the company’s stock has surged by 75%. However, it is important to note that the stock still trades below its post-SPAC merger debut pricing from a year ago.
Andrew Chanin, CEO of ProcureAM, which runs the “UFO” space-focused ETF, commented on the volatility of space companies’ stocks and highlighted that Intuitive Machines is a relatively small company in terms of market size. He expressed optimism for the company’s success and emphasized that positive outcomes from their moon lander mission could encourage further investment and focus on space exploration.
The IM-1 lander is carrying both government and commercial research payloads and is expected to reach the moon after approximately eight days of travel. The landing attempt is scheduled for February 22. Chanin noted that there is currently a significant amount of attention on lunar exploration, and success in this mission could lead to increased interest and investment in space-related endeavors.
Overall, Intuitive Machines’ moon lander mission has shown excellent health, leading to a surge in its stock price. The company’s success in this mission could have broader implications for the future of space exploration and investment in the industry. As the focus on the moon intensifies, it is likely that more entities, including commercial businesses, NASA, and foreign governments, will increase their spending and efforts in lunar exploration.