Planet Labs PBC ( (PL) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Planet Labs PBC’s stock experienced a notable movement due to the awarding of significant contracts valued at $12.8 million and $7.5 million from the National Geospatial-Intelligence Agency and the Navy. These contracts are expected to bolster the company’s financial standing. In response to these developments, Cantor Fitzgerald raised the stock target from $8.50 to $20. This positive sentiment is further supported by growing investor interest in the space sector, particularly with SpaceX’s upcoming projects.
More about Planet Labs PBC
YTD Price Performance: 230.23%
Average Trading Volume: 11,840,539
Technical Sentiment Signal: Buy
Current Market Cap: $4.04B
For further insights into PL stock on TipRanks’ Stock Analysis page.
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