Intuitive Machines Inc.
(NASDAQ:LUNR) stock is trading lower on Tuesday morning, down nearly 8% after capital rotation into a newly public industry peer and lingering pressure from a major capital-raising initiative.
The SpaceX Capital Rotation Effect Market participants are aggressively rotating out of secondary space equities to fund positions in SpaceX, which went public on Friday.
While Intuitive Machines dropped on Tuesday morning, SpaceX stock gained 10% in tandem.
Lingering Impact of $500M Share Offering The downward movement follows an announcement on June 4, where Intuitive Machines disclosed an at-the-market equity offering program.
