Momentus Inc is trading at $9.51 (7% down) as the stock continues to sell off following its $25 million registered direct equity offering priced at-the-market.
- Shares have retreated significantly from a high of $16.30 on June 11, driven by investor concerns over share dilution.
- The downward momentum is further fueled by investors locking in profits following a period of rapid price appreciation prior to the offering.