Planet Labs Falls After Big Earnings Beat, Market Eyes $1.5 Billion Issue
Planet Labs PBC shares are sliding as the week starts, after dropping 25.98% to $32.22 on Friday. Investors sold off the stock despite a strong quarterly report, weighed down by concerns over a possible $1.5 billion equity program that could mean new shares and dilution. Volume cleared 40 million shares, well above normal. Planet shares tumbled hard this week. The stock finished at $32.22 Friday, down from $51.14 at the May 29 close—a sharp fall for what's recently been a popular space play.