Why Momentus Stock Is Soaring Today

Momentus Inc. MNTS shares traded higher Wednesday after the company announced that the Committee on Foreign Investment in the United States (CFIUS) has approved the company’s exit from its National Security Agreement (NSA) and has terminated the NSA.

The Details:

Momentus announced that it has been informed by the U.S. Department of the Treasury that following the company has completed all requirements of the National Security Agreement (NSA) it entered with Momentus in July 2021. The company also stated that CIFUS has approved Momentus’s exit from the NSA agreement and the termination of the NSA.

“The end of the CFIUS process is an enormous positive step for Momentus that culminates more than two years of intensive work by everyone in the Company. I am incredibly appreciative not just of all of their efforts, but also of the U.S. Government’s recognition that our achievements warranted ending the National Security Agreement at this time,” said Momentus CEO John Rood.

“Momentus has now emerged from this rigorous process clear of any lingering security concerns,” Rood concluded.

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Momentus shares moved on heavy trading volume following the company’s announcement. According to data from Benzinga Pro, more than 20.35 million shares were traded in the session, far exceeding the stock’s 100-day average volume of less than 731,000 shares.

MNTS Price Action: According to Benzinga Pro, Momentus shares closed up 42% at $1.02.

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