Why These Defense Stocks Are Gaining This Week

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1. Momentus Inc. (NASDAQ:MNTS)

Weekly Gains: 16.23%

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 working on several space-related defense contracts.

On March 11, the company announced a strategic partnership with Solstar Space for on-demand communication for space systems. This has helped its share price recover to some extent after a tumultuous first quarter of the year, in which Momentus Inc. (NASDAQ:MNTS) has seen a 72% year-to-date decline, amid several delisting warnings and deficiency notices over the last few months.

Overall, Momentus Inc. (NASDAQ:MNTS) ranks first among the defense stocks that are gaining this week. While we acknowledge the potential of defense companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MNTS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires 

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