10 Firms Defy Wednesday’s Broader Market Optimism

5. Intuitive Machines Inc. (NASDAQ:LUNR)

Intuitive Machines dropped for a second day on Wednesday, losing 9.08 percent to close at $19.62 apiece as investors repositioned portfolios ahead of its scheduled payload launch into the moon over the next few days.

The National Aeronautics and Space Administration (NASA) is set to host a media teleconference on Friday, February 7, to discuss the agency’s science and technology flying aboard Intuitive Machines’ second flight to the Moon. The mission forms part of its Commercial Lunar Payload Services initiative and Artemis campaign to establish a long-term lunar presence.

In other news, Intuitive Machines on Wednesday earned an optimistic outlook from Canaccord Genuity, maintaining its “buy” rating and $26 price target for the company.

The company also announced plans to redeem all outstanding warrants unexercised by March 6, as it aims to simplify its capital structure and increase cash reserves for operations.