From CNBC:

Intuitive Machines’ Nova-C lander “Odysseus” successfully deployed from SpaceX’s Falcon 9 rocket for the IM-1 mission to the moon. The company’s stock, LUNR, surged, tripling in value since January to over $13 per share before its lunar landing. Analysts highlight retail investors’ excitement as a driving force behind the rally.

After the moon landing, Intuitive Machines’ stock price soared once again. Analysts compare the anticipation leading up to the landing to waiting for FDA approval on a new drug—a high-stakes, binary outcome. Despite expectations of a potential $15 per share valuation post-landing, caution remains regarding the excitement surpassing the company’s financial performance.

Intuitive Machines went public through a SPAC merger less than a year ago, consistently trading below debut pricing until the recent rally. Analysts note the significance of the IM-1 mission as the first U.S. moon landing in over 50 years led by a corporate entity, sparking enthusiasm among investors. Retail traders are identified as the main drivers behind the stock’s recent surge.

IM-1 made steady progress through 16 milestones outlined by Intuitive Machines before its launch, crucial for getting paid under the NASA contract. Analysts emphasize the importance of proving success in space to increase future contract opportunities with NASA. The competitive nature of NASA’s CLPS program highlights the significance of Intuitive’s progress for future mission bids.



Read more at CNBC: How Wall Street reads IM-1 moon-fueled rally