Investors Eye May 16 After Turbulent Week for Planet Labs
Planet Labs shares fell 3.3% Friday to $41.62 but ended the week up 6.6%, boosted by new satellite launches and a European contract. The company released first images from three Pelican satellites, including Sweden’s first sovereign satellite, after a May 3 SpaceX launch. Planet now has nine AI-enabled Pelican satellites in orbit and plans more launches in 2026. Fourth-quarter revenue rose 41% to $86.8 million.