Why Planet Labs Stock Crashed Today
SpaceX just IPO'ed and Planet Labs stock is going down on no other news. Coincidence?
Overview
So I guess I was both right and right about the SpaceX (NASDAQ: SPCX) IPO.
Right, when I predicted SpaceX IPO fever might drive space stocks higher this year. Indeed, shares of spy satellite operator Planet Labs (NYSE: PL) are up 38% over the last four months.
Details
Unfortunately, I was also right about what would happen on IPO day. And this, in a nutshell, is why Planet Labs stock fell 9% through 12:50 p.m. ET today.
Source
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.