Shares of Intuitive Machines slumped to close 22% lower on Friday after the U.S. space exploration company confirmed that its second moon lander, Athena, landed on its side a day ago, similar to its first attempt last year.

Intuitive Machines' stock fell sharply after the IM-2 mission failed to land properly, impacting its solar panels and raising concerns about future contracts. Despite the setback, the company's business model shows potential with high-margin opportunities in data transmission and infrastructure, contingent on successful delivery missions.

Hopes were high for Intuitive Machines' second lunar landing, but the Athena lander has ended up on its side on the moon's surface.