Intuitive Machines Buys Back Its Warrants: Here's What That Means for You

Is red-hot Intuitive Machines (NASDAQ: LUNR) stock finally starting to cool off?Shares of the space stock roughly doubled in price over the six weeks between mid-December and late January, eventually hitting an intraday high of $24.95 on Friday, Jan. 24. As January has turned into February, however, the stock has given back much of its gains. Friday last week, for example, the stock closed at just $18.40, down 26% from its recent high. Why? In part, I suspect we're seeing the what happens when reality catches up to irrational exuberance over a momentum stock. But in part, I fear Intuitive Machines is itself to blame for its stock price rollback. On Feb. 4, Intuitive Machines announced that it is redeeming its warrants.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool