By Ben Glickman

Shares of Intuitive Machines fell late in Friday after the company's chief executive said its moon lander had come down on its side.

The stock was down 20% to $7.68 in after-hours trading, following a 16% rise at Friday's close. The company's shares rocketed higher in late trading on Thursday after the company confirmed its craft had landed on the moon.

Intuitive Machines CEO Stephen Altemus said at a press conference with the National Aeronautics and Space Administration that the company believed the lander's foot caught on the surface of the moon when coming in for landing, causing it to end up on its side.

Altemus showed a model of the lander, called Odysseus, tipped over on its side to demonstrate what is believed to be the positioning of the craft.

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(END) Dow Jones Newswires

02-23-24 1800ET