Momentus (MNTS) shares slid about 22% this week as space equities sag amid SpaceX pre-IPO fatigue and a high-profile short squeeze unwind. The sector-wide pressure outweighed any individual contract wins, with SPCE’s squeeze ending and SpaceX valuation chatter weighing on pure-play space names. The pullback could persist into the near term without fresh catalysts.
Momentus (MNTS) is leveraging exposure to the Golden Dome missile-defense initiative, citing active contracts with DARPA, SpaceWERX, SDA, NASA and MDA. Management also highlights a $151 billion, 10-year defense vehicle tied to Golden Dome and momentum from Space Systems Command's OTA awards, with goal milestones by 2028. The company projects 2026 revenue of $10 million, supported by NASA/DoD contracts, while Vigoride flights continue advancing; investors are weighing revenue potential against cash burn and dilution risk in a micro-cap name.
Momentus Inc. stock up 6.1% premarket, on pace to break losing streak. May 30, 2024, saw Momentus stock jump 66.4% on DARPA contract announcement. Space stocks like AST SpaceMobile and Rocket Lab also enjoying gains. Virgin Galactic up 4.7% on Friday, Intuitive Machines down 1.6%. Intuitive Machines made history with moon lander, making progress on next mission.