Approaching the historic moon landing and the rise of the company's shares
Intuitive Machines shares soared after releasing an upbeat update on the status of their lunar mission. The company launched the IM-1 mission on February 15 using a SpaceX rocket. In the latest updates, the company announced that the mission is continuing, although the first attempt to fire the lander's engine has been delayed.
The company noted that the engine was tested “thousands of times” before the mission, but after analyzing engine performance data they decided to adjust the launch schedule.
The results of the successful launch of the IM-1 mission sent Intuitive Machines shares up 35% on Thursday. Since the launch of IM-1, the company's shares were up 47% by Friday's close.
Intuitive Machines shares are still trading below their debut price after merging with a SPAC last year.
ProcureAM CEO Andrew Chanin, who runs the UFO ETF, stressed that fluctuations in space stocks, including Intuitive Machines, should not be surprising. He noted that Intuitive Machines, although a small company, continues to attract investor interest.
«We are rooting for them. I hope this will strengthen the belief that such missions are feasible», — said Chanin.
It is planned that «Odysseus» will spend about eight days en route to the Moon before attempting to land on February 22.
Chanin also emphasized that the Moon is currently attracting a lot of attention. Most investors have limited exposure to the space industry, and successful lunar exploration by commercial companies, as well as collaboration with NASA and other governments, will encourage other organizations to increase their spending and activity in lunar missions.