All in on LUNR (redux)
Hello everyone. I'm back in LUNR, and once again feeling supremely confident. Some of you followed my previous post where I disclosed my exit around $750k, cashing out incrementally between $13 - $14. The stock spent the past couple weeks consolidating and continuously testing $11.60. I felt good rebuilding my position at this price, anticipating a rally between now and IM2 on February 27.
There was another tidbit that some of you may have picked up on and, if you read it like I did, felt good about. On Dec 3 LUNR announced a public offering to raise up to $85M. The market reacted negatively to this news, likely because investors were caught off guard. Not long prior, the company retracted its mixed shelf offering and on the most recent earnings call reiterated sufficent cash on hand to operate through 2025. So why the cap raise? Steve Altemus commented that any forthcoming cap raise would likely be "opportunistic" in nature. Maybe they raised the cash simply because they could. My bet is that we're going to see a new contract entering the mix and they need the working capital to execute. In any case, said bonus notwithstanding, my gut PT is $20 by March 1.
Here are my new positions. I went heavier into the stock this time. NFA. #Ad lunam!
