Shares of Intuitive Machines Inc. (LUNR) made a remarkable surge of 151.10% in the afternoon trading session, making them the best performing stock among those listed on major U.S. exchanges. This three-day triple-digit gain was the result of the merger between the space exploration company and special purpose acquisition company (SPAC) Inflection Point Acquisition Corp. (IPAX).
The merger was completed on February 13th and the newly named company, Intuitive Machines Inc., started trading on the Nasdaq the following day. The company specializes in providing space-based products and services to support robotic and human exploration to the moon, mars, and beyond.
The stock gained 3.7% on February 14th, followed by a 27.0% surge on February 15th, and a 200.8% gain in the three days since the merger was completed. At current prices, the company has a market capitalization of $1.29 billion, according to FactSet.
The surge in Intuitive Machines Inc.’s stock comes at a time when the shares of fellow space travel company Virgin Galactic Holdings Inc. (SPCE) have grown 14.7% in the last three months, the ARK Space Exploration & Innovation exchange-traded fund (ARKX) has risen 7.6%, and the S&P 500 (SPX) has gained 4.3%.
The surge in Intuitive Machines Inc.’s stock price is reflective of the increased interest in space exploration. With the successful launch of the Tesla Roadster into space by SpaceX, and the recent discovery of water on the moon, the space exploration industry has become a hot topic.
The demand for space exploration services is expected to increase in the coming years, and Intuitive Machines Inc. is well-positioned to take advantage of this trend. The company has already signed a contract with NASA to deliver a lander to the moon in 2022, and is working on developing a lunar rover for future missions.
The company is also working on developing a new propulsion system for its spacecraft, which will reduce the cost of space exploration and make it more accessible. In addition, the company is working on developing a robotic arm that can be used to collect samples from asteroids and other celestial bodies.
In the near future, Intuitive Machines Inc. is expected to benefit from the growing demand for space exploration services. With the company’s current contracts with NASA and its ongoing projects, the company is well-positioned to capitalize on this trend.
The surge in Intuitive Machines Inc.’s stock price is a testament to the growing interest in space exploration and its potential for long-term growth. With its current contracts and ongoing projects, the company is well-positioned to capitalize on the growing demand for space exploration services. As the industry continues to grow, Intuitive Machines Inc. is expected to benefit from the increased interest in space exploration.