Planet Labs Stock Plunged Following Its Recent Earnings Call. Should Investors Buy the Dip?
The space stock has surged 474% in the past year, but dilution fears have triggered the recent sell-off.
Planet Labs Stock Plunged Following Its Recent Earnings Call. Should Investors Buy the Dip?
Overview
Space stocks have been a hot topic, and Planet Labs (NYSE: PL) is one company in the industry that has surged 474% over the past year. The stock reached $51 per share in late May but has since declined by 40%, including a 26% one-day drop the day after its June 4 earnings announcement.
Here's what has been driving Planet Labs' stock lower and whether investors should buy the dip in the space stock.
Details
Planet Labs operates a constellation of satellites that take images of planet Earth multiple times a day. It provides this imagery, along with spatial analytics and software, to government and enterprise customers daily, enabling them to monitor environmental changes, support defense operations, or optimize crop yields.
Source
Originally published at www.fool.com.
