Why Intuitive Machines Stock Popped on Monday
Intuitive Machines (NASDAQ: LUNR) stock started off the holiday-shortened week right, soaring more than 20% in early trading before quickly retreating to a 6.5% gain as of 10:10 a.m. ET.
The reason: As Intuitive announced this morning, NASA has awarded it additional contracts for Near Space Network (NSN) direct-to-Earth communications services.
If you recall, it was a NASA NSN contract that first lit the candle on this space stock back in September, driving up Intuitive shares 60% in a day after NASA hired it to build a communications system that could carry messages from Earth orbit to the moon and back. Valued at $4.8 billion over 10 years, this contract promised to turbocharge the $200 million or so the company currently receives for sending lunar landers to the moon.
Source Fool.com
