Shares of Planet Labs (PL) jumped over 12% on Monday after the company announced a major new contract with the Swedish Armed Forces. The ongoing rally in Planet Labs stock reflects growing investor confidence in the company’s expanding role in global security and geospatial intelligence.
The recent agreement, described as a multi-year, low-nine-figure deal, will see Planet rapidly deliver a suite of satellites, along with space-based data and situational awareness solutions.
