Intuitive Machines Rockets to 2nd Place on WSB with NASA Deal Boost
1min read Intuitive Machines currently holds the 2nd position in the latest WSB rankings, maintaining its spot from the previous day. The company's stock surged by 24.23%, marking a significant climb over the past two days with an overall increase of 71.85%. This rise reached its highest point since February 2024 during intra-day trading.
The boost follows an announcement that Intuitive Machines secured a significant contract with NASA worth up to $4.82 billion. This contract, part of NASA’s Near Space Network initiative, aims to provide communication and navigation services for missions extending beyond the lunar region. The contract spans an initial five-year period, with an option to extend for another five years.
CEO Steve Altemus highlighted this contract as a milestone, strengthening the company's foothold in space communications and navigation. The collaboration with NASA aligns with the goals of the Artemis campaign, which aims to establish a sustainable presence on the Moon.
Intuitive Machines’ lunar satellite constellation will introduce enhanced data transmission and autonomous capabilities under this new contract. This strategic move underscores the expanding lunar economy's importance and sets the stage for future lunar exploration and commerce.
The company, known for its successful Moon lander mission Odysseus, has seen substantial interest from investors. Earlier this year, the Odysseus made a historic touchdown on the lunar surface, marking the first private U.S. company to achieve such a feat, boosting Intuitive Machines’ stock by over 111% year-to-date.
Intuitive Machines’ recent activities have attracted increased attention in the retail trading community, with potential contract announcements being closely monitored by traders. The company had earlier secured a $116.9 million contract to transport science and technology payloads to the Moon, adding to its growing list of achievements in the space sector.