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Wajeeh Khan

20 Planet Labs Satellites Reached Orbit. What Comes Next for PL Stock.

PL Planet Labs Planet

Planet Labs (PL) stock ripped higher on Oct. 2 after the Earth-imaging company confirmed the successful deployment of 20 satellites into orbit via SpaceX’s (SPCX) Transporter-18 rideshare mission. The payload included 18 SuperDove optical imaging satellites, a hyperspectral Tanager-2 satellite, and a specialized artificial intelligence (AI) prototype satellite built in partnership with Alphabet (GOOG) (GOOGL).

Despite the surge, Planet Labs shares remain down more than 60% versus their year-to-date high.

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