LUNR: Intuitive Machines Stock Craters 50% in Less than 24 Hours on Moon Troubles

Athena spaceship’s moon touchdown wrapped up without an update on the lander’s status. After-hours didn’t stop the selloff—it fueled it.

🌕 Can’t Stick the Landing

• Shares of Intuitive Machines LUNR, a moon-and-space exploration company, was just about to land its Athena spaceship on the moon on Thursday when things suddenly turned dark. The mission, which started in late February, ended with a touchdown on the moon but the broadcast was abruptly ended by Nasa without any status update of the lander.
• Apparently, investors figured the spaceship’s fate is now uncertain — it could’ve tipped over or worse. Intuitive Machines later said that Athena has power and is sending signals but may not be upright.

📉 Shares Erase 50% of Value

• Shares of the Houston company (we do have a problem) plummeted 20% in the cash session Thursday and then cratered more than 30% in after-hours trading to languish near the $8 handle per share. Before market open Friday, shares are down 41% and looking to widen that loss to roughly 60%.
• The company, valued at around $1.5 billion, wanted to repeat a highly successful mission from February 2024 when its Odysseus lander touched down on the moon and sent shares rocketing upward. It was the first time the US had landed on the moon in more than 50 years.