Planet Labs Shares Climb After Satellite Launch
By Robb M. Stewart
Planet Labs PBC's shares took flight Friday following the
successful launch of 44 of the company's satellites into orbit.
In morning trading, the shares were 6.8% higher at $5.97,
narrowing the drop so far in January to 2.9%.
Planet Labs late Thursday said 4X Flock, which consists of 44
SuperDove earth-monitoring satellites, went into orbit on a SpaceX
Falcon 9 rocket. It said it established contact with all of the
satellites, many within two minutes of final deployment.
The satellites join Planet Lab's existing fleet of about 200
satellites in orbit. The latest launch was the first with Elon
Musk's SpaceX under a multiyear, multi-launch agreement signed last
Write to Robb M. Stewart at firstname.lastname@example.org
(END) Dow Jones Newswires
January 14, 2022 10:21 ET (15:21 GMT)
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