Why Planet Labs Stock Crashed Today
So I guess I was both right and right about the SpaceX (NASDAQ: SPCX) IPO.
Right, when I predicted SpaceX IPO fever might drive space stocks higher this year. Indeed, shares of spy satellite operator Planet Labs (NYSE: PL) are up 38% over the last four months.
Unfortunately, I was also right about what would happen on IPO day. And this, in a nutshell, is why Planet Labs stock fell 9% through 12:50 p.m. ET today.
Source Fool.com
