Intuitive Machines Stock Drops After Second Sideways Moon Landing
Shares Fall as Moon Lander Fails to Perform as Expected
Intuitive Machines Faces Setback
Shares of Intuitive Machines plummeted by 22% on Friday after the company confirmed that its Athena moon lander landed on its side, similar to its first attempt last year.
- The six-legged lander was supposed to touch down near the moon’s south pole, about 100 miles (160 km) from the target site.
- However, after completing several mission milestones, the lander ended up on its side.
No Recharge Expected
The company stated that due to the orientation of the solar panels and extremely cold temperatures, it does not expect the Athena lander to recharge.
- This further limits the mission’s success, and the spacecraft will likely remain dormant.
- Despite this, Intuitive Machines was able to collect 250 megabytes of data for NASA, although its scientific instruments did not perform as intended.
Stock Decline After Recent Gains
The drop in share value followed a 20% decline on Thursday, even after the stock had more than doubled in the past year.
- Intuitive Machines had been one of the leading private-sector companies in NASA’s lunar exploration efforts.
Payloads and Mission Milestones
Despite the lander’s configuration, Athena carried 11 payloads and scientific instruments, including a drill to test for water ice and other lunar resources.
- It also aimed to establish the first data center and cellular network on the moon, marking a significant technological milestone for space exploration.
Space Exploration Challenges Continue
In a related development, SpaceX’s Starship mega rocket exploded minutes after launch on Thursday, marking its second straight failure.
- This event occurred shortly after the explosion of Starship, another setback for private space exploration companies.
Delays and Future Missions
Intuitive Machines may need to delay its third lunar landing mission, originally set for next year, as it awaits the deployment of a communications satellite.
- Despite these setbacks, the company is still moving forward with a fourth mission planned for 2027, which aims to deliver six payloads to the moon to help explore the origins of water in the solar system.
Industry Outlook and Analyst Opinion
Despite the recent challenges, Andres Sheppard, a senior analyst at Cantor Fitzgerald, believes the company remains well-positioned in the industry.
- Sheppard acknowledged that the sideways landing might affect Intuitive Machines’ credibility, but it is not indicative of a dire situation for the company.
- In fact, Intuitive Machines is still considered one of the leading private-sector players in NASA’s lunar exploration efforts.