(RTTNews) - Momentus Inc. (MNTS) shares jumped 57.67%, trading at $9.05, up $3.31, following news that the company has developed an additive-manufactured fuel tank under a strategic collaboration to support future space mission needs.
The rally followed Momentus' announcement that it had successfully engineered a new fuel tank using additive manufacturing technologies, designed to enhance production efficiency and performance for spacecraft propulsion systems. The announcement included details of a strategic agreement with an advanced manufacturing partner aimed at scaling the new technology for upcoming missions.
On the day of the announcement, MNTS opened near $5.90, reached an intraday high above $9.20, and saw a low around $5.85, compared with a previous close of $5.74. The stock trades on the NYSE.
Trading volume significantly exceeded the stock's average daily volume, indicating a strong investor response to the news of the development.
Momentus' 52-week range is approximately $3.10 - $9.30, reflecting volatility tied to company milestones in its space services and technology programs.
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