Planet Labs Stock Isn't Living Up to Its Promises
Once upon a time, I had high hopes for Planet Labs (NYSE: PL) stock. Today, I'm not so sure.
Two years ago, as special purpose acquisition company (SPAC) sponsor dMY Technology Group prepared to bring Planet Labs public in an initial public offering (IPO), I had the opportunity to interview the company's CEO and get an idea of what Planet Labs had planned for its immediate future. The plans were ... aggressive -- and encouraging.
With nearly 200 Earth observation satellites in orbit, Planet Labs already owned the world's biggest constellation of private "spy" satellites. They were keeping watch over everything from wildfires in California to troop movements on the Ukrainian border to a certain Taiwanese container ship that famously got itself stuck in Egypt's Suez Canal a few years back.
Source Fool.com
