Why Shares of Momentus Are Rocketing Higher Today
With the S&P 500 inching slightly higher and the Dow Jones Industrial Average sagging slightly at the beginning of the trading session, markets were giving investors mixed signals this morning. But there's no confusion about which direction space infrastructure stock Momentus (NASDAQ: MNTS) is headed. After providing more insight into an agreement it has inked with SpaceX, Momentus has investors racing to pick up its stock.
As of 10:57 a.m. ET, shares of Momentus have risen 44.4%.
In its fourth-quarter 2021 earnings report, Momentus announced it had signed Launch Service agreements with SpaceX for flights in 2022 and 2023. Today, investors are learning more about the specifics of that arrangement, and they're clearly over the moon about it.
Source Fool.com