Intuitive Machines Stock Plunges on Stock Sale Plans
Shares of Intuitive Machines retreated in postmarket trading after the company said it plans to sell shares of its common stock.The stock fell 12.4% to $12.39 in late trading on Tuesday after ending the market session down 2.8% at $14.15. The shares have registered a five-fold increase in price this year.The sale comes after Intuitive's stock reached a 52-week high of $17.14 on Nov. 29.The Houston-based space exploration, infrastructure and services company said it will sell $65 million of its C