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Why Intuitive Machines Stock Popped, Then Dropped Today

TheMotleyFool

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Why Intuitive Machines Stock Popped, Then Dropped Today: https://g.foolcdn.com/editorial/images/824764/artists-conception-of-a-zephyr-earth-reentry-vehicle-is-lunr.png

Intuitive Machines (NASDAQ: LUNR) stock rocketed up nearly 10% in early trading on the Nasdaq Friday, before giving up essentially all its gains. As of 11:05 a.m. ET, the lunar exploration company's stock is up just 0.5%.

What was the catalyst for the stock's rapid rise -- and why didn't it last?

In a press release last night, Intuitive Machines announced it is adding Space Forge, "a recognized leader in space semiconductor manufacturing" (although I've personally never heard of it), as a partner in its Earth Reentry Program (ERP) designed to facilitate in-orbit manufacturing.

Source Fool.com

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