Intuitive Machines NASDAQ:LUNR, a Houston-based space infrastructure company with a $1.1 billion contracted backlog, fell more than 8% on June 24 as the space sector continued its broader retreat following the SpaceX IPO.

Key Highlights

• Intuitive Machines fell more than 8% to close at $19.13 on June 24 with no company-specific negative catalyst.

• The stock had surged more than 88% over the prior year and trades well above its 52-week low of $7.78.

• An investment firm noted the selloff as a buying opportunity, citing record Q1 revenue and positive adjusted EBITDA.

• Intuitive Machines holds five NASA lunar surface delivery task orders and a $1.1 billion contracted backlog.

Intuitive Machines (NASDAQ:LUNR), a Houston-based space infrastructure and services company, closed at $19.13 on June 24, down more than 8%, as the broader space sector continued its retreat following the high-profile SpaceX IPO in mid-June. No company-specific negative catalyst was identified.

The stock had surged more than 88% over the prior twelve months and remains comfortably above its 52-week low of $7.78, with the company underpinned by a $1.1 billion contracted backlog and five NASA lunar surface delivery task orders that provide multi-year revenue visibility. An investment firm characterised the selloff as a buying opportunity, pointing to record first-quarter revenue, positive adjusted EBITDA, and a recently announced $500 million at-the-market equity programme as evidence of sustained operational momentum.

Capital rotation following the SpaceX listing has created a broad headwind for established space infrastructure names, as investors have reallocated toward the newly available SPCX shares. That dynamic is thematic rather than fundamental, and does not reflect any deterioration in Intuitive Machines' commercial pipeline or its positioning as a primary contractor for NASA's commercial lunar programme.

The company's multi-mission lunar delivery capability and growing Earth observation infrastructure portfolio position it as one of the few commercial space companies with near-term contracted revenue at meaningful scale.