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Benzinga
Benzinga
Business
Akanksha Bakshi

Momentus Stock Skyrockets On Launch Agreements With Elon Musk's SpaceX

SpaceX Elon Musk Nasdaq Tesla Inc.
  • Momentus Inc (NASDAQ:MNTS) has signed multiple launch agreements with Space Exploration Technologies Corp. (SpaceX), a Tesla Inc (NASDAQ:TSLA) CEO Elon Musk-led company.
  • These agreements were first revealed during Momentus's March earnings call.
  • The agreements reserve slots for Momentus on four upcoming SpaceX Transporter missions, including the Transporter-6 mission targeted for October 2022, Transporter-7 targeted for January 2023, Transporter-8 targeted for April 2023, and Transporter-9 targeted for October 2023.
  • Momentus plans to fly its inaugural Vigoride demonstration flight on the upcoming SpaceX Transporter-5 mission. These slot reservations are in addition to a Launch Services Agreement signed in 2021 for the SpaceX Transporter-5 mission targeted for launch in June 2022.
  • Price Action: MNTS shares are trading higher by 38% at $4.10 during the premarket session on Thursday.
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