Intuitive Machines shares descend fast after the CEO says the moon lander is on its side


FILE PHOTO The Nova-C lunar lander designed by aerospace company Intuitive Machines is displayed at the companys headquarters in Houston Texas U.S. October 3 2023. REUTERSEvan GarciaFile Photo

FILE PHOTO: The Nova-C lunar lander designed by aerospace company Intuitive Machines is displayed at the company's headquarters in Houston, Texas, U.S., October 3, 2023. REUTERS/Evan Garcia/File Photo

(Reuters) -Shares of moon lander maker Intuitive Machines tumbled 30% in extended trade, wiping out a Friday rally after the company said its spacecraft had tipped over shortly after touching down on the lunar surface a day earlier. The stock of the first private company to successfully land on the moon nearly doubled from $4.98 before the Feb. 15 launch to $9.59 as of Friday's close. Friday's late-day sell-off left it below $7.

Still, the company said the spacecraft Odysseus is "alive and well" and engineers were sending commands to the vehicle, and NASA officials at a news conference praised the effort.


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