Cathie Wood Adds New Space Stock To 2 ETFs: Company Went To Moon, Will Investment Returns Follow?
Thursday, Jan 16, 2025 6:57 pm ET
4min read 
In a significant move, Ark Invest CEO Cathie Wood has added a new space stock to two of her ETFs, signaling her confidence in the company's potential and the growing interest in the space industry. Intuitive Machines (LUNR), the company behind the first private spacecraft to land on the moon, has been included in the Ark Autonomous Technology & Robotics ETF (ARKQ) and the Ark Space Exploration & Innovation ETF (ARKX). This addition comes as Intuitive Machines' stock has soared over the past year, driven by its historic moon landing and recent NASA contract wins.
Intuitive Machines made history in February 2024 when its IM-1 mission successfully landed the first commercial lander on the lunar surface. This achievement generated significant media attention and investor interest, contributing to the stock's surge. The company's upcoming missions, including IM-2 and IM-3, are expected to further validate its technology and capabilities, driving continued growth and investor confidence.
Recent NASA contract wins have also bolstered Intuitive Machines' prospects. The company announced several contract awards in December 2024, including the NASA Near Space Network contract for communication and navigation services, with a maximum potential value of $4.82 billion, and a $116.9 million contract through NASA's Commercial Lunar Payload Services (CLPS) initiative. These contracts represent a significant increase in Intuitive Machines' backlog and potential revenue streams.
Investors will be closely following to see if Wood adds to the Intuitive Machines positions in her ETFs. The stock's strong performance and the company's promising growth prospects suggest that Ark's investment could drive further demand and interest in Intuitive Machines. As of market close on Thursday, November 14, 2024, Intuitive Machines trades at $19.06, within its 52-week trading range of $2.48 to $22.32.
In conclusion, Cathie Wood's addition of Intuitive Machines to her ETFs highlights the growing interest in the space industry and the potential of the company's technology and capabilities. With a historic moon landing, upcoming missions, and recent NASA contract wins, Intuitive Machines is well-positioned to capitalize on the growing demand for commercial lunar exploration services. As investors continue to monitor the space industry, Intuitive Machines' stock performance and growth prospects will be closely watched.
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