Why These Defense Stocks Are Declining This Week

2. Momentus Inc. (NASDAQ:MNTS)

Weekly Decline: -25.49%

Momentus Inc. (NASDAQ:MNTS) is a commercial space company that offers satellite buses and in-space infrastructure services, including hosted payloads, in-space transportation, and other in-orbit services. It is also a recipient of several space-related defense contracts.

The company is among defense stocks that are declining this week. Its share price continued to slump, falling by 25.49%, much like it has done over the past year. Momentus Inc. (NASDAQ:MNTS) has been under pressure for a year after receiving several delisting warnings from NASDAQ due to its low share price. The company has also been sent deficiency notices over the delayed filing of its Form 10-K.

On January 16, NASDAQ granted Momentus Inc. (NASDAQ:MNTS)’s request to continue its listing until April 15 while it executes plans to regain compliance with the stock exchange’s listing rules. It must be noted that the company has regained compliance with the requirement to have a minimum bid price of $1 per share.