Why Intuitive Machines Stock Just Crashed 14%

Intuitive Machines (LUNR -9.96%) stock tumbled 14.2% through 9:45 a.m. ET Wednesday morning after the space company made two disturbing announcements in 24 hours. First, last night after close of trading, Intuitive announced plans to issue and sell up to $73.9 million worth of new common stock in an underwritten public offering (including an overallotment option); and to further sell $10 million in new stock via a private placement (so $83.9 million total). The Fly noted that the company was targeting a sha ...