Why Planet Labs Stock Is Skyrocketing This Week
Shares of Earth observation leader Planet Labs (NYSE: PL) rocketed 38% higher this week as of 3 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence.
The data and insights provider delivered accelerating sales growth of 33% in its third-quarter earnings report on Wednesday while delivering a third-straight quarter of positive free cash flow.
Thanks to the company's faster growth, continued FCF generation, an array of new contracts, and a backlog that more than tripled from last year, the stock soared higher this week.
Source Fool.com
