Shares of Intuitive Machines (LUNR) fell approximately 7% on October 7 as space stocks broadly declined. Rocket Lab and Redwire also posted significant losses, and the sector’s sell-off outpaced the broader market’s decline.
The downturn followed several industry developments, not company-specific news. NASA postponed a key Commercial Lunar Payload Services (CLPS) contract award to November, adding near-term uncertainty for bidders such as Intuitive Machines. Reports that SpaceX was seeking a $40 billion financing round also appeared to weigh on smaller, capital-intensive space companies.
The sector-wide pessimism overshadowed Intuitive Machines’ efforts to expand its satellite manufacturing capabilities for more repeatable, high-volume production. The decline highlights the sector’s sensitivity to macroeconomic pressures and industry financing developments.