Intuitive Machines Stock Is Sliding: What's Going On?
Portfolio Pulse from Adam Eckert
Intuitive Machines Inc (NASDAQ:LUNR) shares are trading lower after the company filed a prospectus for an offering of up to $300 million of its common stock. The filing includes an offering of 159,808,031 shares and 8.295 million warrants. Despite a recent rally due to its successful moon landing mission, the stock is down 4.36% at $6.58. The company reported $4.5 million in cash and $54.6 million including warrant exercises as of March 1.
March 28, 2024 | 1:29 pm
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Intuitive Machines Inc announced a stock offering of up to $300 million, including 159,808,031 shares and 8.295 million warrants, causing its stock to trade lower.
The announcement of a significant stock offering can dilute existing shares, leading to a decrease in stock price. Despite the company's recent achievements, such as the successful moon landing, the immediate reaction to the news of the stock offering has been negative, reflecting investor concerns over dilution.
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