Space Stocks Fizzle following Investor Euphoria - Planet Labs PBC (NYSE: PL) Down on News

Following investor frenzy last week, the sector has fallen back to earth in today’s trading session. But the sector still has very bullish trends moving forward. SpaceX's IPO is expected to fuel the space stock interest as one of the largest IPOs ever.

The stock is trading down today following news. Planet Labs is trading at $34.46

-1.42 (-3.95%) on a volume of 6.7 million shares as of this report.

Planet Labs PBC (NYSE: PL) today announced the shipment of three Pelican satellites to Vandenberg Space Force Base in California ahead of their launch aboard the upcoming CAS500/2 rideshare mission with SpaceX. By launching these satellites to orbit, Planet will further expand the Pelican fleet’s industry-leading capabilities and rapid revisit rate, providing high-resolution, AI-enabled solutions to its customers around the world.

“Kicking off our first Pelican launch of 2026 demonstrates the pace at which we’re scaling our most advanced constellation to date, with higher resolution, faster repeat rates, and lower latency,” said Will Marshall, Co-Founder and CEO of Planet. “By integrating the NVIDIA Jetson platform directly onboard, we are effectively adding a high-functioning AI ‘brain’ to our satellite ‘eyes’—working to enable answers in minutes rather than hours. This is a move beyond mere imagery towards what we call Planetary Intelligence. By running AI at the edge, we’re striving to provide customers with near real-time answers about the planet and move insights from the digital to the physical world.”

“The shipment and integration of these spacecraft reflect the incredible momentum of our production line,” said Brian Lewis, Mission Director for Pelican at Planet. “Our rapid manufacturing and design approach allows us to iterate and deploy at scale, providing the high-resolution intelligence customers need to make critical and time-sensitive decisions. This milestone reinforces our commitment to meeting the urgent operational demands of our partners at the pace of global change.”

Full News

Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day and make change visible, accessible, and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to customers comprising the world’s leading agriculture, forestry, intelligence, education, and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. www.planet.com

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