Intuitive Machines Drops to No. 2 on WSB as NASA Deal Sends Stock Soaring
Intuitive Machines has secured the second spot on the latest WSB rankings, slipping one position from the previous day. Following the announcement of a significant NASA contract, shares soared by 38.33%, achieving the highest price since February 2024.
The company's stock surged on Wednesday after unveiling a substantial contract with NASA. This Near Space Network agreement is valued at a staggering $4.82 billion and will supply communication and navigation services in the near space region. The contract spans an initial five-year term with an optional five-year extension.
According to CEO Steve Altemus, this contract represents a pivotal moment for Intuitive Machines in establishing leadership in space communications and navigation. Their partnership with NASA will further support the Artemis campaign and the mission to expand the lunar economy.
Under this contract, Intuitive Machines will introduce its lunar satellite constellation to deliver advanced data and transmission services, alongside autonomous operations. This involves deploying lunar relay satellites to bolster NASA's Artemis campaign, which targets a lasting presence on the Moon.
Earlier this year, the company's Moon lander, Odysseus, successfully landed on the lunar surface during the IM-1 mission, marking the first U.S. return to the Moon since 1972. This accomplishment has fueled increased retail interest and stock volatility, particularly as traders anticipated significant contract announcements.
In a recent earnings call, Altemus highlighted that NASA indicated potential contract awards in August and September. Later, Intuitive Machines announced a $116.9 million contract to transport six science and technology payloads to the Moon, reinforcing their foothold in lunar missions.
Altemus also mentioned their interest in commercializing the VIPER mission rover system, canceled in July, reflecting the company's ongoing engagement with NASA's lunar objectives.