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Intuitive Machines shares slide 7.96% to $23.71 as $500 million ATM plan and short interest weigh

Intuitive Machines (LUNR) fell 7.96% to $23.71 on Tuesday after the company announced on June 4 an at-the-market equity program for up to $500 million, raising dilution concerns. The stock also faced pressure as investors rotated out of secondary space names following SpaceX’s Friday listing. Short interest rose to 34.79 million shares, or 26.53% of the public float, while the price slipped below its 20-day and 50-day moving averages and MACD momentum weakened. Key support is around $23.
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