Intuitive Machines’s lunar lander, nicknamed Odysseus, touched down on the moon on February 22.Photo: Intuitive Machines (Reuters)
Shares of Intuitive Machines shot up in trading Friday after the company completed the first-ever successful commercial moon landing, beating out competitors worldwide.
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The Houston, Texas-based aerospace company landed its moon lander, nicknamed Odysseus, or “Odie” for short, on Thursday evening. It was the first U.S. spacecraft to land on the moon in decades; the last successful U.S. lunar landing was in 1972 when Apollo 17 brought astronauts Gene Cernan and Harrison Schmitt to the moon.
“Odysseus has taken the moon,” said NASA Administrator Bill Nelson after the landing. “This feat is a giant leap forward for all of humanity.”
On Friday, Intuitive shares rose by 33% before shedding some gains. The company’s stock is currently up by more than 19% as of roughly 2:30 p.m. ET.
After going public through a special purpose acquisition company last February, the stock slid to an all-time low near $2 in January. But, as investors watched Intuitive progress toward what would become a successful lunar landing, the stock rebounded, climbing 250%.
In a statement on Friday morning, Intuitive said Odysseus is “alive and well” on the moon and downloading data for researchers back on Earth. The solar-powered lander, which is expected to survive for roughly a week on the moon, is carrying 12 government and commercial payloads.
NASA paid the company $118 million to fly several instruments to the moon, including equipment designed to test navigation and landing technology. Intuitive has also won two more contracts under NASA’s Commercial Lunar Payload Services Initiative.
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