Momentus Inc. (MNTS), a company specializing in in-space infrastructure, is experiencing a turbulent day in the market. The company’s shares are trading significantly lower on Friday after receiving a non-compliance notice from the Nasdaq Listing Qualifications Department. The notice highlights Momentus’ failure to meet the minimum bid price requirement and its delay in filing its Form 10-Qs for the periods ended March 31, 2024, and June 30, 2024. These issues, according to the notice, could lead to the delisting of Momentus’ securities from the Nasdaq Capital Market.
In separate news, Momentus announced that the U.S. District Court for the Northern District of California has issued a preliminary order approving a derivative settlement. This settlement involves the company adopting specific corporate governance reforms and paying attorney fees, litigation expenses, and service awards to lead plaintiffs. The final approval hearing for this settlement is scheduled for November 21, 2024.
For investors interested in purchasing MNTS stock, there are multiple avenues beyond traditional brokerage platforms. You can gain exposure to Momentus shares through exchange-traded funds (ETFs) that hold the stock or by investing in a 401(k) strategy that includes mutual funds or other instruments in the Industrials sector. ETFs often hold shares in a diverse range of large, liquid companies within a specific sector, providing investors with a broader exposure to industry trends.
As of Friday’s publication, Momentus shares have plummeted by 14.2%, trading at 46 cents. This decline is likely attributed to the delisting risk and the ongoing legal proceedings. The company’s future trajectory remains uncertain, and investors will closely monitor the situation to understand the full impact of these developments.
