Intuitive Machines (LUNR) Gets Battered by Market Pessimism

We recently published Market Shockers: 10 Stocks Collapse by Double Digits. Intuitive Machines Inc. (NASDAQ:LUNR) is one of the best performers on Wednesday.

Intuitive Machines extended losses for a second day on Wednesday, shedding 10.49 percent to close at $11.35 apiece, in line with the broader market as investors flocked to safety amid renewed tensions between the US and China.

Market sentiment weakened after President Donald Trump’s announcement that he would impose export curbs to China made with US software.

Intuitive Machines (LUNR) Gets Battered by Market Pessimism

According to a report by Reuters, the restrictions would impact a broad range of goods including laptops and jet engines, among others.

The retaliation followed Beijing’s newly imposed policy to curb exports of rare earth products, with foreign entities now required to obtain export licenses.

Additionally, the drop was dampened by the lack of fresh catalysts to spark buying appetite.

In other news, Intuitive Machines Inc. (NASDAQ:LUNR) received a Capability Maturity Model Integration (CMMI) Maturity Level 3, which signifies that it meets the National Aeronautics and Space Administration’s (NASA) standards for Class A human spaceflight, together with well-defined and consistently applied engineering processes.

While we acknowledge the risk and potential of LUNR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LUNR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.