Momentus Inc. (NASDAQ:MNTS) Stock Rallies 155% On Heavy Volume: What’s The Buzz?

This morning, the Momentus Inc. (NASDAQ:MNTS) stock emerged as one of the notable movers after it clocked gains of 155% to $1.06 amidst strong interest.

Rally Trigger

Investors piled on to the stock after the company announced this morning that NASA selected Momentus to supply launch services in future missions. It would be a part of the Venture-Class Acquisition of Dedicated and Rideshare (VADR) contract of the agency.

Following the breakthrough, Momentus would be in a position to deliver a range of payloads. The payloads would also include CubeStats, Class D satellites, and others that can tolerate higher risks.

Significance of the Selection

The selection by NASA would provide the company with the opportunity to deploy its Vigoride spacecraft. The spacecraft had previously been flight-proven to meet the needs for in-space operations. In the news release, Momentus also announced that the selection by NASA was a major step in its aim to expand access to space for a range of payloads.

The role that would be played by the company in supporting the missions from NASA was also an illustration of the growing demand for cost-effective and varied launch services in the space niche. It could be a good time to add the Momentus stock to your watch lists.

Key Quote

“We’re delighted to be part of the VADR program and to have been selected by NASA to be among its suppliers for the missions under this program,” said Momentus CEO John Rood. “We’re proud of our company’s capabilities to provide cost-effective services to launch and support a wide range of payloads in orbit using our flight-proven Vigoride spacecraft and look forward to supporting NASA’s requirements for cutting-edge in-space operations.”