What is a "monkey stock"? This private company that landed on the moon tells you
There is a company in the U.S. stock market with extremely volatile stock prices, jumping up and down, known as a "monkey stock" or the "Chang'e Flying to the Moon" concept stock.
This company is called Intuitive Machines, $Intuitive Machines(LUNR.US). Its main businesses include lunar landing services, orbital services, lunar data, and space infrastructure.
In February 2024, the Nova-C lander manufactured by Intuitive Machines, aboard SpaceX's Falcon 9, landed near the lunar south pole (80.13°S, 1.44°E), successfully touching down on the lunar surface.
This marks the first lunar landing mission completed by a private company in human history, creating another milestone in commercial spaceflight.
The Nova-C lander carried six non-NASA payloads, including materials for Columbia jackets, artist Jeff Koons' "Moon Phases" artwork, and an astronomical camera from the Lunar Observation Association.
During the landing process, the lander almost tipped over, with one of its six legs stuck, leaning against a rock.
If the criteria for a successful lunar landing are defined as: "returning scientific and commercial data to clients" and "achieving a safe soft landing on the lunar surface," then Intuitive Machines' CEO Steve Altemus believes, "This landing achieved both goals, making it an absolute success for us."
Just before the lunar landing in January 2024, Intuitive Machines' stock price surged by over 300%.
When the successful landing was announced, its stock rose another 40%.
However, news of the "lame leg" caused a 30% drop.
The entire process was as thrilling as a roller coaster ride.
As a private company that successfully landed on the moon, the market's first focus is undoubtedly Intuitive Machines' technical capabilities.
Landing on the lunar surface is extremely challenging. Three other commercial space companies had previously attempted lunar landings, all of which failed.
For example, the most difficult part of the landing maneuver involves completing Earth-Moon transfer orbit flight, circular lunar orbit flight, and elliptical orbit flight, gradually eliminating orbital residuals before landing on the lunar surface.
A soft landing in a small, complex terrain requires the highest precision calculations during the separation of the combined body (orbiter, lander, etc.), thrust ignition, deceleration, hovering, and contact with the lunar surface—truly "a miss is as good as a mile."
The technical approach for this landing was very similar to the Apollo missions decades ago, but without astronauts to make final corrections, it was even more technically complex.
The company's next lunar mission plans to drill for water ice on the moon and deploy the first lunar data relay satellite.
Although its technical prowess is undeniable, Intuitive Machines is not seen as a great investment by many investors.
Because: while the technology is top-tier, the business risks are high, and the company heavily relies on NASA as its single major client.
In Q1 2024, Intuitive Machines reported revenue of $73.1 million, equivalent to its total revenue in 2021, with a gross profit of $12.2 million and $55.2 million in cash.
This was mainly due to NASA's engineering service contracts and commercial payments for the landing mission.
However, the company still faced a net loss of $5.4 million.
Intuitive Machines holds significant government contracts, being a key participant in NASA's Commercial Lunar Payload Services program (worth $2.6 billion) and a technical support contractor for NASA's Mars Sample Return mission ($11 billion).
Recently, it also secured a research contract for the LTV lunar rover project (worth $4.6 billion).
However, for now, Intuitive Machines remains a project-based company.
Its greatest potential lies in future lunar data services, providing lunar communication, navigation, and imaging through six ground stations and a planned lunar orbital satellite constellation.
Currently, the company is deploying the Lunar Data Network (LDN) and the Nova Control lunar operations center.
Additionally, it offers rideshare services, space domain awareness, refueling, orbital debris removal, space station services, satellite repositioning, and develops propulsion systems, navigation systems, engineering services, and lunar surface mobility infrastructure.
If successful, future lunar exploration missions will rely heavily on Intuitive Machines' support.
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