Intuitive Machines Stock Plummets Amid Uncertainty Over Latest Lunar Lander Mission
Intuitive Machines shares sharply decline as the fate of the Athena lunar lander remains uncertain after its recent moon landing attempt.
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Intuitive Machines (LUNR) experienced a significant drop in stock value on Thursday due to unclear updates regarding its Athena lander's attempt to land on the lunar surface.
The company's shares fell more than 20% during regular trading hours after NASA abruptly ended the livestream of Athena’s landing, leaving investors uncertain about the mission's success. CEO Stephen Altemus confirmed that the lander made contact with the moon and was transmitting data back to Earth. However, the team was still determining its exact position and whether the lander was upright. Although Athena was generating power, it was insufficient to operate all its systems.
Following these developments, Intuitive Machines' stock further declined by 27% in after-hours trading after Altemus expressed doubts about the lander's orientation.
Intuitive Machines' Second Attempt at a Lunar Touchdown
This mission marks the company's second effort to achieve a successful lunar landing. Earlier in February 2024, their Odysseus lander became the first commercial spacecraft to softly land on the moon, though it toppled soon after, limiting its ability to carry out scientific tasks.
Funded by NASA’s Artemis program, Athena carries advanced technology designed to collect lunar soil samples. These samples will be analyzed to detect water or other resources that could potentially be used for fuel or oxygen production.
Due to the recent setbacks, Intuitive Machines' stock has lost approximately 38% of its value so far this year.
Update—March 6, 2025: This article has been revised to include CEO Stephen Altemus's comments on Athena's suspected condition and subsequent after-hours stock movements.
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