Is Planet Labs The Cheapest Stock In The Space Economy?
The satellite builder is still firing on all cylinders.
Overview
Planet Labs (NYSE: PL), a developer of satellite constellations, went public through a merger with a special purpose acquisition company (SPAC) on Dec. 8, 2021. Its stock closed at $11.35 on the first day and eventually reached a record high of $51.40 on May 28, 2026.
Today, its stock trades at about $25. Like many of its industry peers, Planet Lab had rallied ahead of SpaceX's (NASDAQ: SPCX) market debut in June, but pulled back after that massive IPO drew investors away from the smaller space stocks. A massive $1.5 billion at-the-market stock offering that same month exacerbated its decline.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.