Momentus Shares Are Rocketing Higher: What's Going On?
Portfolio Pulse from Adam Eckert
Shares of Momentus Inc (NASDAQ:MNTS) are trading higher on high volume as retail traders target the stock. The company announced a contract with RIDE! Space for transportation and orbital delivery services, set to commence in Q1 next year. The African space economy is projected to grow to over $22 billion by 2026, and Momentus anticipates rideshare services to be a key enabler for this growth. Momentus' trading volume has exceeded 28.5 million, significantly higher than its 100-day average session volume of 1.4 million.
October 12, 2023 | 7:02 pm
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Momentus Inc's shares are trading higher after the announcement of a contract with RIDE! Space. The company's trading volume has significantly increased.
The announcement of the contract with RIDE! Space has led to a surge in Momentus Inc's shares. The increased trading volume indicates a heightened interest in the stock, which could potentially drive the price higher in the short term.
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