Planet Labs PBC ( (PL) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Planet Labs PBC’s stock movement has been influenced by both positive and negative factors. The company secured a $7.5 million Navy contract renewal and extended its partnership with VITO, prompting Wedbush to raise its price target due to increasing government and commercial traction. However, challenges with profitability and negative cash flow have created mixed sentiment among investors. Additionally, recent insider selling activity and technical indicators have raised caution, contributing to the stock’s decline.
More about Planet Labs PBC
YTD Price Performance: 294.46%
Average Trading Volume: 11,247,640
Technical Sentiment Signal: Buy
Current Market Cap: $4.8B
For further insights into PL stock on TipRanks’ Stock Analysis page.
See more of today’s top stock gainers and losers.