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 stock is on the rise, driven by recent satellite launches and plans to produce Pelican satellites in Germany. This upward momentum is further supported by Wedbush’s increased price target of $17, highlighting strong demand in both government and commercial sectors, as well as a growing backlog that suggests stable future revenue growth. Additionally, the company’s issuance of $460 million in convertible notes reflects strategic financial planning to bolster future expansion.
More about Planet Labs PBC
YTD Price Performance: 246.85%
Average Trading Volume: 10,684,926
Technical Sentiment Signal: Buy
Current Market Cap: $4.24B
For further insights into PL stock on TipRanks’ Stock Analysis page.
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