Momentus (NASDAQ:MNTS) stock is climbing higher on Tuesday after the commercial space company announced a new contract with NASA.
This is an indefinite-delivery/indefinite-quantity (ID/IQ) base contract award from NASA. The performance period of this contract is five years and covers “flight and payload integration services.”
With this contract, Momentus has the opportunity to be selected by NASA for task or delivery orders for in-space transportation services. This has it among 15 companies included in the contract.
Momentus CEO John Rood said the following about the company’s contract with NASA:
“We are honored to be selected by NASA for this important opportunity to support the United States’ efforts in space.”
How This Affects MNTS Stock
With today’s news comes heavy trading of MNTS stock. That has more than 7.1 million shares of MNTS changing hands during pre-market hours. This is already well above the daily average trading volume of about 1.4 million units for Momentus shares.
MNTS stock is up 11.4% as of Tuesday morning following the NASA announcement. Investors will keep in mind that the stock was down 54.1% year-to-date (YTD) when markets closed on Monday!
There are even more stock market stories traders are going to want to read about below!
We have all of the hottest stock market news investors need to know about on Tuesday! Among that is what has shares of Zhongchao (NASDAQ:ZCMD) stock up today, the biggest pre-market stock movers this morning and more. All of this news is ready to go at the links below!
More Stock Market News for Tuesday
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
