Why Intuitive Machines Stock Is Plummeting Today
The stock of Intuitive Machines (NASDAQ: LUNR) is seeing intense sell-offs in Friday's trading. The lunar-lander company's share price was down 24.1% as of 1:15 p.m. ET today and had been down as much as 37.4% earlier in the day's trading.
Intuitive Machines' valuation is under intense pressure due to the status of the company's latest lunar lander. The Athena was confirmed to have made it to the moon yesterday, but its mission did not go as planned.
The company released a statement today announcing that its Athena lunar lander had touched down 250 meters (about 270 yards) from its intended landing point. It landed on its side within a crater, and Intuitive Machines said that its orientation and location mean that onboard solar panels will not be able to recharge the craft's batteries.
Source Fool.com
