A publicly traded company is getting one step closer to reaching the moon.
What’s happening:
- Houston, Texas based space company Intuitive Machines (NASDAQ: LUNR) has successfully completed the launch of their IM-1 mission
- The launch was done in collaboration with Elon Musk’s SpaceX and has successfully sent Intuitive Machine’s into orbit to reach the moon
Why it matters:
- The recent launch represents important validation for Intuitive Machine’s technology and future ability to successfully reach the moon
- Intuitive Machines currently has an existing partnership with NASA to deliver payloads to the moon using their purpose built technology
Going deeper:
- This is the first ever attempted lunar landing mission for Intuitive Machines as part of NASA’s Commercial Payload Lunar Services
- The underlying science and technology payloads being validated on this mission are a critical part of future human missions and developing a lunar presence
Market reaction:
- Intuitive Machine shares were up +45% since announcing the successful launch into orbit
