Why Intuitive Machines Stock Just Blew a Gasket
Shares of Intuitive Machines (NASDAQ: LUNR), owner of the first U.S. lunar lander to land on the moon in the past 50 years, tumbled 11.5% through 9:40 a.m. ET this morning after announcing an "upsized" sale of convertible debt.
Last night, the company planned to sell only $250 million worth of "convertible senior notes due 2030." But demand for the offering was so strong that this morning, Intuitive said it will sell $300 million instead.
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Source Fool.com
