One of the massive market movers that’s grabbing significant investor attention today is Intuitive Machines (NASDAQ:LUNR). Shares of LUNR stock have shot to the moon (no pun intended today), surging nearly 80% at the time of writing.
While little in the way of substantial news appears to be driving this move, there is one potential catalyst with this company investors are watching. Last week, the company announced it would attend the 35th annual Roth conference on March 12. This conference will allow investors to have one-on-one meetings with the company’s CFO, Erik Sallee. Additionally, it appears the market is expecting some news to potentially arise from this investing conference.
Like other low-volume stocks, it appears retail investors may be mainly behind this move. Only 6 million of the company’s 334 million shares make up Intuitive’s float, suggesting this stock could be more prone to short squeezes. Whether or not that is the case today is unclear. That said, this company is seeing strong attention on social media today.
Let’s dive into what investors should make of this move.
LUNR Stock Rockets Higher
Perhaps some investors know something we don’t. Or, in the case of other low-float stocks that have seen surges, this is another case of momentum-driven near-term outperformance.
Whatever the case, it appears investors are gearing up for some big news. This upcoming Roth conference is among the unique opportunities for investors to learn about what companies like Intuitive Machines are up to. If the company has something to announce, it’s likely to come next week.
I’ll be keeping my eye on this stock and will follow up if there’s any news. For now, this is a stock that’s got clear momentum. In this market, that’s something many speculators and traders will want to be aware of.
On the date of publication, Chris MacDonald 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.
