Intuitive Machines gains on $600 million satellite contract
LUNR•Shares rise after contract authorization
- Shares of space firm Intuitive Machines
LUNR.Owere up 5.8% at $20.11 in premarket trading. - The company said it received authorization from an undisclosed customer to begin work on a multi-satellite communications infrastructure program with an anticipated value of more than $600 million.
- The company reported Q2 revenue that missed estimates last week and posted a wider-than-expected loss.
- Up to the last close, the stock has risen about 17% so far this year.
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