March 7 - Intuitive Machines (LUNR, Financial) saw its shares plunge about 22% on Friday morning after reports surfaced of complications with its IM?2 mission's Nova?C lunar lander, Athena. The lander, while still communicating, experienced a critical anomaly during its descent.
Management has been redirecting power to essential systems to address unexpected positioning issues on the moon, which has spurred investor concern about the mission's overall viability and the company's broader space exploration ambitions. Analysts remain cautious amid the setback.
The six?legged lunar lander touched down near a location some 100 miles (160 km) from the moon's south pole. However, telemetry data indicates the lander is resting on its side, which increases doubts about his precision landing and the future of operations, CEO Steve Altemus told The Associated Press.
Later today, authorities are scheduled to hold a press conference to furnish the market with more details on the proposed corrective measures. The Intuitive Machines development has greatly added doubt to the future, causing investors to reconsider its value and how far into the future it is planning to go. The briefing will be followed by the market analysts updating their forecasts.
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