Why Intuitive Machines (LUNR) Is Last Week’s Biggest Loser?

We recently published a list of These 10 Firms Were Last Week’s Biggest Losers. In this article, we are going to take a look at where Intuitive Machines, Inc. (NASDAQ:LUNR) stands against other firms that were last week’s biggest losers.

Ten companies fell significantly last week, mirroring a broader market downturn, as investors sold off positions following disappointing news and data that weighed heavily on market sentiment.

On Friday, the Dow Jones recorded its largest weekly drop, falling 1.07%, while the S&P’s main index and Nasdaq declined by 0.71% and 0.62%, respectively.

To come up with this week’s top decliners, 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)

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) saw its share prices drop by 7.65 percent last week to $17.87 from the $19.35 posted a week prior as investors repositioned their portfolios ahead of the company’s scheduled payload launch.

Intuitive Machines, Inc. (NASDAQ:LUNR), a company engaged in space exploration, is slated to launch its next payload next month, and analysts said investors may have turned cautious about the potential launching, particularly any financial implications if the space exploration activity does not go as planned.

In other news, Intuitive Machines, Inc. (NASDAQ:LUNR) recently successfully integrated Nokia’s Lunar Surface Communication System into the IM-2 mission lander, named Athena, paving the way for the first cellular network on the moon.

After months of testing and validation with Nokia Bell Labs, Intuitive Machines (LUNR) engineers installed the LSCS network in a box to one of Athena’s upper carbon-composite panels. Multiple precautions were taken during the installation to help ensure that the network will safely make the 239,000-mile journey to the Moon, survive the stresses of take-off and landing, and operate optimally on the lunar surface.

Overall, LUNR ranks 8th on our list of firms that were last week’s biggest losers. 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.