Intuitive Machines, a Texas-based lunar company, has seen a surge in its stock price as its first moon mission, known as IM-1, approaches its final stages. The company’s stock has soared by 65% in trading, reaching an intraday high of $12.05, surpassing its post-SPAC debut price. Since the launch of the inaugural moon mission last week, Intuitive Machines’ share price has more than doubled.
The IM-1 mission, launched on a SpaceX rocket, has successfully completed several milestones crucial to its success. One significant milestone was when the lander, named “Odysseus,” fired its engine for the first time, allowing it to adjust its trajectory and remain on target. The company has been providing daily updates on the mission’s progress, stating that the cargo lander is in excellent health and preparing to enter the moon’s orbit on Wednesday.
Entering lunar orbit, also known as “lunar orbit insertion,” will be the mission’s largest challenge to date. If successful, Intuitive Machines is on track to make its moon landing attempt on Thursday at 5:49 p.m. ET. The IM-1 lander is carrying 12 government and commercial payloads, with six of them being for NASA under a $118 million contract.
Intuitive Machines’ mission is part of NASA’s Commercial Lunar Payload Services initiative, which aims to utilize low-cost private spacecraft for delivering science projects and cargo to the moon in support of the agency’s Artemis crew program. This initiative represents a shift towards using private companies to achieve lunar exploration goals.
The history of lunar missions has been marked by mixed success, with over 50 attempts made by governments and private companies since the early 1960s. Even in the modern era, landing on the moon remains a challenging endeavor. Just last month, Astrobotic, a U.S. company, encountered problems shortly after launch and was unable to make a lunar landing attempt.
Intuitive Machines’ successful mission would be a significant milestone not only for the company but also for the future of lunar exploration. As private companies continue to play a larger role in space exploration, the potential for more frequent and cost-effective missions to the moon becomes increasingly feasible.
Investors are closely watching Intuitive Machines’ progress, as the company’s stock continues to soar. With its successful moon landing attempt on the horizon, the company’s future looks promising. As we eagerly await the outcome of this historic mission, the possibilities for further advancements in space exploration are becoming more tangible than ever before.
