Shares Of Intuitive Machines Soar After First Successful US Moon Landing In Half Century

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by Tyler Durden
Friday, Feb 23, 2024 - 11:55 AM

Intuitive Machines Inc. shares jumped Friday morning after its Odysseus lunar lander became the first American spacecraft to land on the moon since the Apollo 17 mission more than 50 years ago.

"We can confirm, without a doubt, that our equipment is on the surface of the moon," said Stephen Altemus, CEO of Intuitive Machines.

Altemus cheered: "Welcome to the moon."

Before Odysseus' descent to the lunar surface, the spacecraft lost contact with NASA, resulting in a tense 15 minutes. But communication with the spacecraft was quickly re-established. 

"A commercial lander named Odysseus, powered by a company called Intuitive Machines, launched up on a Space X rocket, carrying a bounty of NASA scientific instruments and bearing the dream of a new adventure, a new adventure in science, innovation and American leadership, well, all of that aced the landing of a lifetime," NASA Administrator Bill Nelson said after contact had been re-established.

Nelson continued: "Today, for the first time in more than a half-century, the U.S. has returned to the moon."

NASA paid the Houston-based company $118 million to deliver six instruments to the moon. 

Shares of Intuitive Machines are up more than 38% in the premarket trading session in New York. 

This is a win for Intuitive Machines, NASA, and SpaceX.