Why Planet Labs Stock Is Skyrocketing This Week
Planet Labs' satellite constellation is growing, its backlog is booming, its cash flows are positive, and its share price is rising.Shares of Earth observation leader and public benefit corporation Planet Labs (PL 1.51%) soared 27% higher this week as of noon ET on Friday, according to data provided by S&P Global Market Intelligence.The reason for this fanfare stems from an announcement on Wednesday that Planet Labs had shipped two Pelican satellites and 36 SuperDoves for launch.CEO and cofounder Will Marsh ...