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Intuitive Machines Buys Back Its Warrants: Here's What That Means for You
Is red-hot Intuitive Machines (NASDAQ: LUNR) stock finally starting to cool off?Shares of the space stock roughly doubled in price over the six weeks between mid-December and late January, eventually hitting an intraday high of $24.95 on Friday, Jan. 24. As January has turned into February, however, the stock has given back much of its gains. Friday last week, for example, the stock closed at just $18.40, down 26% from its recent high. Why? In part, I suspect we're seeing the what happens when reality catches up to irrational exuberance over a momentum stock. But in part, I fear Intuitive Machines is itself to blame for its stock price rollback. On Feb. 4, Intuitive Machines announced that it is redeeming its warrants.Continue reading
Is red-hot Intuitive Machines (NASDAQ: LUNR) stock finally starting to cool off?
Shares of the space stock roughly doubled in price over the six weeks between mid-December and late January, eventually hitting an intraday high of $24.95 on Friday, Jan. 24. As January has turned into February, however, the stock has given back much of its gains. Friday last week, for example, the stock closed at just $18.40, down 26% from its recent high.
Why? In part, I suspect we're seeing the what happens when reality catches up to irrational exuberance over a momentum stock. But in part, I fear Intuitive Machines is itself to blame for its stock price rollback. On Feb. 4, Intuitive Machines announced that it is redeeming its warrants.
