LUNR stock surged 14% before erasing gains as investors shift focus to SpaceX’s upcoming June 12 IPO.
Intuitive Machines (LUNR) shares jumped nearly 14% Monday morning before reversing to trade down 2% by 10:40 a.m. ET. The stock had rallied 32% over the past two weeks amid strong sales and its lunar mission success in 2024.
Wall Street banks raised price targets on LUNR as recently as Friday, but sentiment shifted after Reuters reported SpaceX’s IPO roadshow begins June 4, with trading set for June 12. The impending SpaceX listing is expected to divert investor attention from other space stocks.
Analysts suggest the momentum behind LUNR may fade as capital flows toward SpaceX, the sector’s most anticipated IPO in years.