Intuitive Machines Stock Rockets Higher On Johns Hopkins APL Partnership: Retail Holds Bullish Stance
By Stocktwits Inc | First Published Nov 22, 2024, 12:35 AM ISTAPL will explore potential hardware applications benefiting U.S. interests, with Intuitive Machines positioned to adapt these advancements for commercial use.
Shares of Intuitive Machines, Inc. ($LUNR) surged over 17% Thursday afternoon, nearing record highs since its SPAC merger in February.
The jump followed the announcement of a collaboration with the Johns Hopkins University Applied Physics Laboratory (APL) to advance secure and reliable lunar communications and navigation infrastructure in cislunar space.
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Under the Cooperation Agreement, APL will explore potential hardware applications benefiting U.S. interests, with Intuitive Machines positioned to adapt these advancements for commercial use.
The partnership aims to cement Intuitive Machines’ leadership in the growing cislunar (between the earth and the moon) economy.
“This partnership is a leap toward establishing safe, secure, and reliable communications and navigation around the Moon, an area where we believe technology advancement is needed,” said CEO Steve Altemus.
He highlighted APL’s long-standing expertise in addressing challenges in defense, national security, and space exploration.
On Stocktwits, retail sentiment inched higher, maintaining a ‘bullish’ tone.
LUNR became the second-most trending symbol on the platform by early afternoon, with users praising the partnership.
One user emphasized APL’s prominence as the nation’s largest research facility affiliated with NASA and the Department of Defense.
Intuitive Machines has gained traction among retail investors this year, fueled by milestones like its historic lunar landing with the Odysseus lander and multiple NASA contracts.
These include a $116.9 million award under the Commercial Lunar Payload Services (CLPS) program and a $4.82 billion NASA Near Space Network contract.
The company’s second lunar mission is slated for early next year, further boosting investor optimism.
Retail interest has soared, with $LUNR attracting 368% more followers on Stocktwits over the past year and a 4,500% spike in message volume.
The stock has skyrocketed 500% year-to-date.
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