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Why Is Intuitive Machines (LUNR) Stock Up 15% Today?

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  • Intuitive Machines (LUNR) stock continues to rally on Thursday.
  • That comes after heavy trading sent it 116% higher yesterday.
  • Traders will keep in mind LUNR only recently went public.
LUNR Stock - Why Is Intuitive Machines (LUNR) Stock Up 15% Today?

Source: Blue Planet Studio/Shutterstock

Intuitive Machines (NASDAQ:LUNR) stock remains a hot topic among traders on Thursday as a recent rally climbs higher!

Investors will note that Intuitive Machines is incredibly new to the public market. The company’s shares only started trading publicly last week. That came after it completed a special purpose acquisition company (SPAC) merger with Inflection Point Acquisition.

The fact LUNR comes from a SPAC merger is something investors will want to keep in mind. SPACs have a bit of a reputation for volatility, with massive rallies that can turn into major dips at a moment’s notice.

It’s possible that’s what traders see with the rocket and data services company. For example, the stock closed out Wednesday trading up 116.4%. It also saw some 4 million shares trade hands at that time. For the record, the average daily trading volume for LUNR stock is around 336,000 shares.

Today’s LUNR Stock Movement

As shares of LUNR stock continue to rally today, some 92,000 shares of the stock have changed hands. With that comes a 15.4% increase in the stock’s price. That’s nowhere close to yesterday’s rally, and could be a sign that interest in the stock is slowing.

Traders might even see LUNR dip into the red today as it gives up some of yesterday’s gains. Keep that in mind before making any investments in LUNR stock today.

Investors looking into all the latest stock market news will want to keep reading!

InvestorPlace has all the hottest stock market news traders need to know about on Thursday! That includes what has shares of Jounce Therapeutics (NASDAQ:JNCE) stock up, the biggest pre-market stock movers, and more. You can read up on all of that news at the following links!

More Thursday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2023/02/why-is-intuitive-machines-lunr-stock-up-15-today/.

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