In-space infrastructure company, Momentus Inc. ( MNTS ) , shares are trading lower Friday after the company received a non-compliance notice from the Listing Qualifications Department indicating Momentus’ continued non-compliance with the minimum bid price requirement. The company also announced a U.S. district court has issued a preliminary order providing for approval of a derivative settlement.

The Details:

In addition to non-compliance with the minimum bid requirement, the noncompliance notice states that since Momentus ( MNTS ) has not yet filed its Form 10-Qs for the periods ended March 31, 2024 and June 30, 2024, it no longer complies with Listing Rule 5250(c)(1). These matters individually serve as separate and additional basis for delisting the company’s securities from The Nasdaq Capital Market. 

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Momentus ( MNTS ) also announced the U.S. District Court for the Northern District of California issued a preliminary order providing for approval of a derivative settlement and providing for notice of the settlement to stockholders of the company. 

The proposed settlement calls for the company to adopt certain corporate governance reforms and pay lead plaintiffs’ attorney’s fees, litigation expenses, and lead plaintiff service awards. The order set a final approval hearing for Nov. 21, 2024.

How To Buy MNTS Stock:

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Momentus’ case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

MNTS Price Action: According to Benzinga Pro, Momentus ( MNTS ) shares are down 14.2% at 46 cents at the time of publication Friday.

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