I’m a believer in the space economy — how can I not be? As cited by several experts, the space economy could soon be worth over $1 trillion. Recently, a slew of sector-related enterprises, including earth-imaging specialist Planet Labs (PL), has enjoyed robust upswings in valuation. Still, what goes up has a tendency of coming back down.
In the case of PL stock, it’s possible that the security has risen too far, too fast. In the trailing one-month period, shares have skyrocketed nearly 34% higher. That’s not necessarily unusual given that PL — being priced under $5 per share — is often regarded as a penny stock. But that also means any subsequent corrections can be potentially violent.
