The Space Investor - 🚀 $LUNR Soars in Public Debut

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• On January 9th, the Company's mission at Space Cornwall failed to reach orbit despite first stage flight, stage separation, second stage ignition, and fairing deployment were nominal.
   
• The key takeaways include:
  • A fuel filter within the fuel feedline had been dislodged from its normal position.
     
  • The downstream filter fuel pump operated at a degraded efficiency level, resulting in a fuel starved and overheated engine.
     
  • Components downstream and in vicinity of the abnormally hot engine eventually malfunctioned, causing the second stage thrust to terminate prematurely.

• Following last week's business combination with Inflection Point Acquisition Corp. ($IPAX), the Company only raised $55M from the process as shareholders redeemed nearly all of the $300M held in a Trust prior to close.. Not great,
   
• Investors didn't seem to care though. Shares rose +27.0% on Wednesday and spiked +251.4% the following day. A mere tripling in the three days since going public. Who said SPACs were dead?!
   
• CEO and co-founder Steve Altemus appeared on TDAmeritrade to discuss the Company and its future.

• The Canadian launch startup was developing a small-lift rocket with a stratospheric balloon as the first stage with plans to start commercial launch operations in 2024 by lifting up 150kg to orbit.
   
• The Company filed for bankruptcy last week on February 10 and named Deloitte as the trustee to handle its affairs. While we don't believe it was the only factor, SpaceRyde faced backlash from local residents in Ontario around noise complaints associated with their engine test facility

• $IRDM
  • Revenue: $721M, +17% YoY
  • Op. EBITDA: $424M, +12% YoY
  • Net Income: $8.7M, up from $(9.3)M
  • Total Subscribers: 1.999M, +16% YoY
  • Shares: -5.9%
• $AJRD
  • Net Sales: $2,238M, +8% YoY
  • Net Income: $74M, -50% YoY
  • Adj. EBITDAP: $239M, -20%
  • FCF: $(89)M vs. $162M YoY
  • Shares: -0.3%
• $AIR
  • Revenue: €11,259M, +11% YoY
  • EBIT: €384M, -45% YoY
  • Order Intake (net): 13,660, flat
  • Shares: +4.9%

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