MNTS Posts Biggest Single-Day Fall This Year – What’s Driving Today’s Sell-Off?

• Momentus will sell about 1.85 million shares of common stock, implying a per share value of roughly $13.5.
• Last month, the company sold nearly 2.94 million shares to raise $25 million in a private placement offer.
• Space stocks traded in the red following SpaceX’s much-anticipated Nasdaq debut.

Shares of Momentus (MNTS) crashed 27% on Friday, after the space infrastructure and satellite transportation company said it would raise around $25 million, its second share sale agreement in over two weeks, while space stocks in general slipped following SpaceX’s Nasdaq debut.

MNTS stock clocked its biggest single-day loss this year.

MNTS’ Second $25M Offering

Momentus will raise the $25 million through a registered direct offering with new and existing institutional investors. Under the deal, the company will sell about 1.85 million shares of common stock to raise the proceeds. This comes up to around $13.5 per share.

Momentus said it plans to use the net proceeds for working capital and general corporate purposes. The offering is expected to close by June 15.

The capital raise comes after the company filed a shelf registration with the SEC in May, allowing it to issue up to $200 million in securities, including common stock, preferred stock, debt securities, and warrants.

The latest fundraising follows a separate $25 million private placement announced last month, in which the company agreed to sell nearly 2.94 million shares to existing institutional investors. After that financing, Momentus said it expected to hold approximately $76 million in cash, cash equivalents, and short-term investments.

Space Stocks Slide As SpaceX Becomes Top-10 Most Valuable Firms Globally

Overall, shares of space-focused firms declined sharply following SpaceX’s listing. Rocket Lab USA (RKLB) fell 7.5%, Intuitive Machines (LUNR) dropped 11%, BlackSky Technology (BKSY) lost 12%, AST SpaceMobile (ASTS) fell nearly 13%, and Firefly Aerospace (FLY) crashed more than 17%.

Space Exploration Technologies Corp. (SPCX) raised $75 billion in its IPO by selling 555.55 million shares at $135 each. The stock debuted on the Nasdaq at $150, propelling the company into the ranks of the world’s 10 most valuable publicly traded companies by market capitalization.

Retail Says MNTS Is Undervalued

Retail sentiment on Stocktwits turned ‘bullish’ from ‘neutral’ a day earlier. One user said the stock is “undervalued” and will soon participate in various defense and space programs.

The stock has surged more than 110% so far in 2026.

Read also: Tesla May See Double-Digit Growth In Q2 Deliveries, Says Analyst – But ‘It’s Not Evidence That Demand Has Re-Accelerated’

For updates and corrections, email newsroom[at]stocktwits[dot]com.