Intuitive Machines Inc. (NASDAQ:LUNR) shares are climbing Tuesday after reports that NASA is close to announcing a bulk purchase of rocket launches for its planned moon base. Here’s what you should know.
- Intuitive Machines shares are climbing with conviction. What’s behind LUNR gains?
Intuitive Machines Gains as NASA Nears a Bulk Launch Purchase
NASA is gearing up to place a bulk order for rocket launches that would support its $30 billion plan for a permanent moon base, Bloomberg reported. Demand for rockets is booming and supply is tight. NASA hopes to stay ahead of the squeeze by lining up several kinds now.
Carlos García-Galán, NASA’s moon base program manager, said the agency will “probably announce the first set of these bulk buys” soon. NASA could buy four or five different rockets at once and match each to a commercial lander. García-Galán did not say which rockets NASA is weighing.
Bloomberg’s report never names Intuitive Machines. Still, NASA’s effort to line up more routes to the lunar surface could benefit companies that sell services in cislunar space, where Intuitive Machines operates.
The news lands during World Space Week, which began October 4 with events in 100 nations. Events this year center on the theme “Rocket Revolution.” World Space Week Association President Dennis Stone said falling launch costs and easier access to orbit have opened the door to new space applications.
Intuitive Machines Builds Space Infrastructure and Services
For context, Intuitive Machines builds and runs space systems to support lasting human activity beyond Earth. The company develops spacecraft and space-based network connectivity. It sells infrastructure as a service in low Earth orbit, geostationary orbit, cislunar space and deep space, serving commercial, civil and national security customers.
LUNR Shares Are Rising
LUNR Price Action: Intuitive Machines shares were up 4.41% at $14.92 at the time of publication on Tuesday, according to Benzinga Pro.
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