24/7 Market News Snapshot 30 May, 2024 – Momentus (NASDAQ: MNTS)

May 30, 2024 7:06

Press Release

DENVER, Colo., 30 May, 2024 (247marketnews.com)- Momentus Inc. (NASDAQ:MNTS) is currently experiencing a phenomenal rise in their stock price in pre-market trading. With a substantial increase to $0.74 from the previous close of $0.52, representing a 42.308% surge, Momentus is capturing the attention of investors and industry observers with a volume of 5.1M shares traded.

This significant uptick coincides with the company’s latest announcement of securing a strategic contract with the Defense Advanced Research Projects Agency (DARPA), aiming to enhance in-space construction capability and deploy sophisticated infrastructure services. The contract is part of the Novel Orbital and Moon Manufacturing, Materials, and Mass-efficient Design (NOM4D) program, which is dedicated to advancing technologies for assembling space-optimized large-scale structures.

John Rood, CEO of Momentus, expresses great enthusiasm about the partnership with DARPA, highlighting the unique capabilities of the Momentus Vigoride vehicle and its role in propelling the company to forefront of in-space infrastructure innovation. The vehicle’s customization potential, payload capacity, and eco-friendly propulsion system are deemed crucial for the success of the pioneering assembly technologies featured in the program.

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