Why Intuitive Machines, Inc. (LUNR) Soared At The Start Of The Trading Week

We recently compiled a list of the 10 Firms Kick Off Trading Week Soaring. In this article, we are going to take a look at where Intuitive Machines, Inc. (NASDAQ:LUNR) stands against the other stocks.

Wall Street’s main indices kicked off the trading week soaring on Tuesday amid a series of catalysts from President Donald Trump’s inauguration event that fueled investor sentiment.

The Dow rose by 1.24 percent, the S&P 500 rose 0.88 percent, while the Nasdaq Composite increased 0.64 percent.

On Tuesday, 10 companies—mostly under the space exploration, energy, and quantum computing sectors—registered the highest gains. In this article, let’s take a look at their impressive performance.

To come up with Tuesday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A satellite being released from a launch vehicle, heading into space.

Intuitive Machines, Inc. (NASDAQ:LUNR)

Intuitive Machines, Inc. (NASDAQ:LUNR), an American space exploration company, saw its share prices higher by 23.93 percent on Tuesday after President Donald Trump announced plans to support the space industry’s sending of astronauts to Mars. Intuitive Machines traded higher in line with its counterparts following the news.

At his inauguration on Monday, Trump said that the US “will pursue its manifest destiny into the stars, launching American astronauts to plant the Stars and Stripes on the planet Mars.”

According to analysts, investors in the space exploration companies are reacting to the potential growth in the space sector which is expected to expand significantly in the future.

With government estimates projecting the total cost of the space program at nearly $100 billion over time, the prospects for expansion have sparked heightened interest and investment in the industry.

Overall LUNR ranks 4th on our list of the firms that kicked off the trading week soaring. 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 as promising as LUNR but 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.