Apparently, Intuitive Machines’ (NASDAQ:LUNR) plan to go to the moon as a private enterprise is enough to justify a massive surge in the share price. This space stock may be joining a comparatively small list of similar projects, but it’s definitely captured investors’ attention. It’s up over 150% at the time of writing, but why?
That’s the question of the day, and there are few answers to go on. Intuitive Machines released little news that would support such a moonshot. No Securities and Exchange Commission filings kicked in that offered insight. Worse, the stock has only been public for a little over a week; it went public back on February 14 and has seen triple-digit gains on more than one occasion in the meantime. Some believe that there’s a connection to be had in how it does business.
Intuitive Machines has four main sectors of operation: orbital services, lunar access services, lunar data service, and space products and infrastructure. That’s actually somewhat different from most other space firms, like Virgin Galactic (NYSE:SPCE), which are more expanding generally into space rather than on a specific target. That really doesn’t account for all the triple-digit gains, but it does explain at least some of what’s going on. Still, for a stock that closed its first day of trading at $10.03, these are staggering gains.
The last five days of trading have rewarded investors greatly. Indeed, shares have gone from the mid-$30 range all the way up to $136 before giving back some of those gains. Nevertheless, LUNR stock is up over 131% over this timeframe.