- Shares of Momentus rallied nearly 50% on Thursday due to a new partnership with SpaceX
- MNTS stock has gained over 100% in the last month
- The agreement reserves slots for Momentus on four upcoming SpaceX Transporter missions
Shares of Momentus (NASDAQ: MNTS) soared up to 45% in early Thursday trading on the news that the small company has signed multiple launch agreements with Elon Musks’ Space Exploration Technologies, better known as SpaceX. Momentous is a US commercial airspace company that has bold plans for offerings of transportation and various other in-space infrastructure services.
The agreements were first announced in the company’s March earnings call, reigniting buyer sentiment and sparking an uptick in the otherwise heavily sold stock. In the last month, MNTS stock has gained over 100% as investors find promise in the talks with SpaceX. The agreement reserves slots for Momentus on four upcoming SpaceX Transporter missions; including the Transporter-6 targeted for October 2022, Transporter-7 for January 2023, Transporter-8 for April 2023, and Transporter-9 targeted for October 2023.
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Momentus CEO John Rood commented:
“Our agreements with SpaceX establish a regular launch cadence for Momentus as we bring our initial services to market…We'll use these flight opportunities to demonstrate the capabilities of our Vigoride orbital transfer vehicle, deliver customers to orbit, and continue the development of new technologies to expand our service offerings at lower costs.”
Momentus is hoping to fly its inaugural Vigoride demonstration flights on the upcoming SpaceX Transporter-5 mission later this year, on the grounds of appropriate government approval of necessary licenses.
Space technology is still largely an emerging market, especially commercially. This being said, we will undoubtedly see an increase in publicly listed space stocks in the coming years as modern technology continues to pave the way for exploration. Buyers looking at MNTS should wait for a pullback if looking to enter, where risk to reward seems more suitable.