Intuitive Machines (LUNR) Jumps 13% as JPMorgan Adds Space Firms to Billion-Dollar Investment

We recently published Monstrous Gains: 10 Stocks Leaving Wall Street in the Dust. Intuitive Machines, Inc. (NASDAQ:LUNR) is one of the best performers on Tuesday.

Intuitive Machines, Inc. (NASDAQ:LUNR) extended gains for a second day on Tuesday, surging 13.06 percent to close at $13.85 apiece as investors gobbled up shares after JPMorgan announced that the space industry was among the sectors it was looking to invest in.

The plan forms part of the $1.5-trillion investment program announced on Monday. Of the total amount, JPMorgan said some $10 billion will be invested in companies across 27 sectors deemed critical to the United States’ economic security and resiliency, including spacecraft and space launches.

“Stockpiles of vital munitions are inadequate, and the nature of modern warfare is evolving rapidly. There is a clear need for modern defense technologies across areas such as low-cost air, land, and sea drones, satellites, and electronic warfare,” JPMorgan said.

Intuitive Machines, Inc. (NASDAQ:LUNR) rallied alongside its counterparts, namely Rocket Lab Corp., AST SpaceMobile, and Virgin Galactic, among others, following the news.

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Disclosure: None. This article is originally published at Insider Monkey.