We recently compiled a list of the Why These 10 Stocks Are Skyrocketing. In this article, we are going to take a look at where Intuitive Machines, Inc. (NASDAQ:LUNR) stands against the other stocks that are skyrocketing.
Wall Street saw a quiet trading session this week amid the lack of major catalysts to perk up the market. Despite an overall thin trading volume, 10 companies managed to outperform and mirror gains of all major indices.
To come up with the Top 10 Gainers this week, we focused on stocks that have at least $2 billion in market capitalization and $5 million in daily trading volume.
Let’s take a look at Intuitive Machines, Inc. (NASDAQ:LUNR) and how it has performed so far.
A satellite being released from a launch vehicle, heading into space.
Intuitive Machines, Inc. (NASDAQ:LUNR)
Shares in Intuitive Machines, Inc. (NASDAQ:LUNR) opened at $14.32 apiece on Monday, bucking a quiet session, and ended Tuesday’s shortened trading day up by 16 percent to $16.65 apiece.
Analysts pointed to the company’s historic achievements and multi-billion dollar contracts as having fueled appetite for its shares.
Last week, the National Aeronautics and Space Administration (NASA) selected Intuitive Machines to expand its commercial direct-to-Earth capabilities, which is a mission-critical communication capability that allows spacecraft to transmit data directly to ground stations on Earth.
Under the agreement, Intuitive Machines will receive two task order awards to support NASA’s Lunar Exploration Ground Segment, providing additional capacity to alleviate demand on the Deep Space Network and to meet the mission requirements for unique, highly elliptical orbits. The company also previously received a task order award for Subcategory 2.2 GEO to Cislunar Relay Services.
Overall, LUNR ranks 4th on our list of stocks that are skyrocketing. While we acknowledge the potential of LUNR as an investment, our conviction lies in the belief that 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 but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.