Why Planet Labs Is Soaring Today
Shares of Planet Labs (NYSE: PL) are skyrocketing Tuesday. The stock is up 20.8% as of 2:30 p.m. ET, but was up as much as 24.3% earlier in the day. The move up comes as the S 500 and the Nasdaq Composite gained 0.9% and 0.7%, respectively.
A major announcement from President Donald Trump sent shares of Planet Labs and other space stocks soaring.
Mars has long been the next significant goal in humanity's quest to explore the stars. After Monday's inauguration, that dream may become a reality. Trump dedicated precious time during the first address of his second term to make clear his intention to send Americans to Mars. Trump said that it was time for the country to "act with courage, vigor, and the vitality of history's greatest civilization" and "plant the Stars and Stripes on the planet Mars."
Source Fool.com
