We recently published a list of 10 Firms Stand Strong Amid Market Decline. In this article, we are going to take a look at where Intuitive Machines (NASDAQ:LUNR) stands against other firms that stand strong amid market decline.
The US stock market finished the day on a sour note amid the lack of fresh catalysts to spice up trading while investors repositioned their portfolios ahead of 2025.
On Monday, the Dow shed 0.97 percent or 418 points, while the S&P’s broad index decreased 0.95 percent or 56.48 points. Nasdaq Composite registered the biggest decline, down 1.19 percent or 235.24 points.
Despite losses, 10 companies managed to eke out gains, with those in the energy sector posting notable performance. Let’s explore why.
To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A technician in a factory environment assembling components for the company’s optical backscatter reflectometers.
Intuitive Machines Inc (NASDAQ:LUNR)
Intuitive Machines (NASDAQ:LUNR) on Monday saw its share price grow by 2.99 percent or 0.55 points to end at $18.94 each as traders continued to place bets on the company’s growth prospects.
In the past five and 30 days of trading, Intuitive Machines was able to book an increase of 32.31 percent and 30.08 percent, respectively.
Last week, the company announced securing multi-billion dollar contracts from the National Aeronautics and Space Administration (NASA) to expand the latter’s commercial direct-to-Earth capabilities. This mission-critical communication capability 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.
Overall, LUNR ranks 9th on our list of firms that stand strong amid market decline. 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 timeframe. 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.