Intuitive Machines Stock Lifts Off After The Bell: What's Going On?
Portfolio Pulse from Adam Eckert
Intuitive Machines Inc (NASDAQ:LUNR) shares rose in extended trading after being awarded a $30 million Lunar Terrain Vehicle contract by NASA. The contract involves a feasibility assessment for developing and deploying a Lunar Terrain Vehicle using Intuitive Machines' Nova-D lunar lander. The company's CEO highlighted the alignment with their capability to deliver payloads to the Moon, and the project allows for commercial utilization of the vehicle. Partners in the project include AVL, Boeing, Michelin, and Northrop Grumman. LUNR shares are up 135% year-to-date, following their successful moon landing mission.
April 03, 2024 | 8:58 pm
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Intuitive Machines Inc received a $30 million contract from NASA for a Lunar Terrain Vehicle, contributing to a significant rise in its stock price after hours.
The award of a significant contract from NASA directly impacts Intuitive Machines' business prospects by expanding its role in lunar exploration and infrastructure services. This development is likely to positively influence investor sentiment and the stock's value in the short term, as evidenced by the after-hours stock price increase.
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