Why Planet Labs Stock Went to the Moon Today
Rocket Lab is buying Iridium. Is Planet Labs next on the space shopping list?
Overview
Rocket Lab (NASDAQ: RKLB) is buying Iridium Communications (NASDAQ: IRDM) for $8 billion, as the two space companies announced -- and it's getting investors in other space stocks pretty excited this morning.
Planet Labs (NYSE: PL) stock for example isn't involved in the RKLB-IRDM deal at all, but as of 10:30 a.m. ET it's already up 10.5% -- even more than Rocket Lab's 8.7% bump, albeit not as much as Iridium's 21.6% gain!
Image source: Getty Images.
Details
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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.