$Intuitive Machines (LUNR.US)$Stock price surges with new contract with NASA. This is big. -- Barrons.com
The stock price of space technology provider Intuitive Machines surged after the company announced a separate contract with NASA at the end of Tuesday's trading.
The stock price rose 35% in post-market trading, reaching $7.29 per share. While the stock price had dropped 5.6% on a session basis, the S&P 500 index and the Dow Jones Industrial Average showed less than 0.1% fluctuation.
This decline may seem significant, but the stock price has risen nearly 16% since the start of September. In late August, Intuitive Machines announced a $117 million contract to deliver six scientific and technological payloads to the lunar South Pole.
The latest contract amount far exceeds the previous one and could reach $4.8 billion over a period of 10 years. Intuitive will provide communications and navigation services for missions in the near-space region beyond the Earth's surface to the moon.
This contract is... for the company.