Why Intuitive Machines Stock Was Sliding This Week
Friday morning before market open, Intuitive Machines (NASDAQ: LUNR) investors were digesting a double-digit fall in the space stock over the preceding days. The monster new equity in the sector -- Space Exploration Technologies, of course -- was experiencing quite the bear run, and was dragging down other industry titles.
Intuitive Machines couldn't escape this. At that point, its share price had eroded by nearly 16% week to date, according to data compiled by S&P Global Market Intelligence.
Intuitive didn't have any price-dragging news of its own this week (at least as of this writing), so its stock price slide was clearly a by-product of SpaceX's swoon. The dynamic with the latter company isn't unusual. Large initial public offerings (IPOs) -- and SpaceX's is massive -- tend to trigger high expectations.
Source Fool.com
