Momentus Inc. (MNTS) experienced an increase of 6.68% in aftermarket following the announcement that MNTS is planning to join MSCI Global Small Cap Indexes. However, the last trading session concluded at $6.89 with a decline of 3.5%.
MNTS to join MSCI Global Small Cap Indexes – What’re the updates?
MNTS announced on 30th November 2021 that the common stock will add to MSCI Global Small Cap Indexes. The MSCI Global Small Cap Indexes cover small companies in over 20 Developed Markets nations. Moreover, the indexes encompass around 14% of each country’s free float-adjusted market capitalization, with 4,419 components.
Now what?
The company will include in the MSCI Small Cap Index, which is a standard for investing institutions. Furthermore, MNTS has made great progress this year towards the aim of delivering space transportation and infrastructure services that will fuel space economic growth. Lastly, the company is looking forward to an optimistic prospect.
Third Quarter 2021 results by MNTS – How was the quarter?
MNTS announced third-quarter results on 9th November 2021. MNTS states that the product development strategy has been refocused into concrete stages. This will assist lay the groundwork for future growth. The first step is to get the Vigoride car on the market as soon as possible. Moreover, Vigoride 3’s first assembly and system-level functional testing were completed, and a strategy was prepared to rectify any abnormalities. Some components are undergoing remediation and planned rework, and the vehicle will shortly undergo system-level thermal vacuum testing, which is a type of late-stage environmental testing that replicates the conditions in space.
During the testing, the MET has functioned as planned thus far. Furthermore, MNTS fulfilled all of the commitments pertaining to the previously announced $40 million buybacks of co-founders’ shares. Also, SEC Enforcement agreed to settle all remaining claims. Last but not least, MNTS hired an independent compliance consultant after the quarter ended, as required by the settlement agreement.
What’s up?
MNTS has made significant progress towards the objective of offering transportation and infrastructure services. This will enable individuals, enterprises, and industries to use space in exciting new ways during the third quarter.
