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Space company Momentus MNTS begins trading on Nasdaq after SPAC

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The company’s latest-generation Microwave Electrothermal Thruster (MET) undergoes testing in a vacuum chamber at its facility in Santa Clara, California.

Momentus

Space company Momentus debuted on the Nasdaq on Friday, completing a nearly year-long and turbulent merger process that resulted in a new CEO and the departure of its founders.

“In terms of value for investors, I think we’re well positioned to meet some big market trends,” Momentus CEO John Rood, who began leading the company on Aug. 1, told CNBC. “There is a need for what we provide.”

Momentus stock dropped as much as 9% in trading from its previous close of $10.97 a share.

The company this week completed its merger with Stable…



Source cnbc.com

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