Planet Labs Stock Falls Over 40% From All-Time High Amid Investor Rotation to SpaceX IPO

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3▲1 ▼2Impact / 5
Summary · why it matters

Shares of Planet Labs have fallen over 40% this past month, dropping from an all-time high of about $51 in May to around $28. The decline is largely driven by space-focused investors rotating capital out of existing satellite and data companies and into SpaceX ahead of its initial public offering. Planet Labs also reported a net loss of $138.9 million in its first quarter of fiscal 2027, though $106.5 million of that was a one-time noncash accounting adjustment tied to warrant liabilities. Revenue rose 42% year over year to $94.2 million, and the company's backlog grew 72% to $906 million. The company ended the quarter with $730.8 million in cash, cash equivalents, and short-term investments, and its Defense and Intelligence segment revenue grew more than 65% year over year, supported by a $21.9 million contract extension with the U.S. National Geospatial-Intelligence Agency.

Impact on assets 4

Space Economy± Mixed · 3 stocks
Planet Labs PBC
PL
▼ NegativeCapitalrelevance

Stock fell 40% due to investor rotation to SpaceX IPO, despite strong revenue and backlog growth.

Blacksky Technology Inc
BKSY
▼ NegativeCapitalrelevance

Investor rotation to SpaceX IPO is draining capital from space stocks like Blacksky.

Artificial Intelligence▲ · 1 stocks
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