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We recently published a list of Bitcoin Miners, Quantum Computing Lead Rally: A Look at Wednesday’s Top 10 Gainers. In this article, we are going to take a look at where Intuitive Machines, Inc. (NASDAQ:LUNR) stands among Wednesday’s top gainers that lead rally.
Wall Street’s main indices closed in the green territory on Wednesday, posting gains of more than 1 percent as investors cheered news of a tamed inflation rate for November.
The Dow Jones jumped by 1.65 percent, while the S&P 500 surged by 1.83 percent. Meanwhile, the Nasdaq Composite index soared 2.45 percent.
Ten companies mirrored the broader market optimism, led by the quantum computing and bitcoin mining sectors. Today, let’s take a look at what buoyed investor sentiment for each of the top gainers.
To come up with Wednesday’s top advancers, 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) ended stronger on Wednesday, adding 14.10 percent to finish at $19.18 each after the company sealed a deal with Puli Space Technologies to investigate water ice at the Moon’s south pole.
Through the Puli Lunar Water Snooper (PLWS) attached to Intuitive Machines’ Micro Nova Hopper, the two companies will spearhead a mission to study water ice in the south pole region of the moon and provide the first direct surface measurements from a permanently shadowed crater.
The endeavor, backed by the European Space Agency (ESA), aims to deploy a neutron spectrometer to uncover valuable insights into lunar resources.
According to ESA, launching of the study is scheduled for late February this year.
Earlier this month, the National Aeronautics and Space Administration (NASA) also selected Intuitive Machines (NASDAQ:LUNR) to expand its commercial direct-to-Earth capabilities, which is a mission-critical communication capability that allows spacecraft to transmit data directly to ground stations on Earth.
Under the agreement, Intuitive Machines (NASDAQ:LUNR) 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. The company also previously received a task order award for Subcategory 2.2 GEO to Cislunar Relay Services.
Overall, LUNR ranks 4th on our list of Wednesday’s top gainers that lead rally. While we acknowledge the potential of LUNR as a leading investment, our conviction lies in the belief that some 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 as promising as LUNR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.