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Why is Intuitive Machines Inc (LUNR) Stock down?

We've noticed a 5.47% decline in Intuitive Machines Inc (LUNR) stock during the 2024-06-11 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
13 Nov, 2023:

Shares of Intuitive Machines (LUNR) dropped by 3.86% from $2.85 to $2.74 in the trading on Monday, November 13, 2023. The reason why LUNR is down today is due to the company's Third Quarter 2023 Financial and Business Highlights. While the company reported a contracted backlog of $135.2 million at quarter-end, it also revealed a third-quarter 2023 operating loss of $(23.2) million, a significant increase from $(11.8) million in the prior year period. Additionally, LUNR secured a $20 million equity investment from an institutional investor and had an ending cash balance of $40.7 million at the end of the third quarter. The stock market may have reacted to these financial results, contributing to the decline in LUNR's share price.

23 Oct, 2023:

Shares of Intuitive Machines (LUNR) dropped by 8.41% from $3.09 to $2.83 in the trading on Monday, October 23, 2023. The reason why LUNR is down today is due to the company's announcement that it would release its financial results for the third quarter of 2023 on Monday, November 13, 2023, before the market opens. Given the negative sentiment from investors regarding the upcoming results, the stock price may have experienced a decline in anticipation of the earnings release. This kind of market reaction is not uncommon when there is uncertainty or pessimism surrounding a company's financial performance.

31 Aug, 2023:

Shares of Intuitive Machines (LUNR) dropped by 8.29% from $5.19 to $4.76 in the trading on Thursday, August 31, 2023. The reason why LUNR is down today is due to the company's announcement that it had entered into a definitive securities purchase agreement with an institutional investor for the issuance and sale of stock and warrants in exchange for a $20 million equity investment. This agreement, set to close on September 5, 2023, is aimed at providing the company with additional capital for general corporate purposes and working capital needs as it expands its activities across key growth programs. Consequently, the market may have reacted to the dilution effect of the new shares issued through this investment, leading to the decline in the stock price.

23 Feb, 2023:

Shares of Intuitive Machines (LUNR) dropped by 75.24% from $81.99 to $20.30 in the trading on Wednesday, February 23, 2023. The reason why LUNR is down today is due to the announcement that Polar Multi-Strategy Master Fund had decided not to proceed with its plan to purchase 1.25 million of the company's Class A common shares. This decision came after a sharp 116% increase in LUNR's share price on February 22. The market's reaction to this change in investment plans likely led to the substantial decrease in the stock's value.

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