Intuitive Machines (NASDAQ: LUNR) is up 7.8% on a day when the broader market continues to move lower. The lunar exploration company has had no new launches, nor were there any developments in its financial results that would trigger such a move.
The catalyst moving LUNR stock higher is a deal that will initially be dilutive to shareholders. Intuitive Machines is buying Lanteris for $800 million. The company will pay $450 million in cash and the remaining $350 million in LUNR stock. That’s where the dilution comes in.
