Why Planet Labs Stock Popped Again Today
Earth observation satellite operator Planet Labs (NYSE: PL) soared 8% in a single day last month, after announcing a "six-figure deal" to help non-governmental organization (NGO) Global Fishing Watch monitor fishing vessels across the... well, the globe, actually. On Monday morning, the stock is up barely half as much -- 4.5% through 10:05 a.m. ET -- after announcing an analogous data deal that could be 10 times as big.
So why aren't investors more excited?
This morning, Planet confirmed a "multiyear, seven-figure deal" with climate finance company Laconic, to help monitor forest growth, including "above-ground carbon, canopy height, and cover." Planet says the images its satellites take provide "AI-powered forest carbon insights" that Laconic can use to value carbon credits and securities based on these credits as they trade globally.
Source Fool.com
