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Stock impact report

The Best Space Stock to Invest $1,000 in Right Now [Yahoo! Finance]

Planet Labs PBC Class A (PL) 
Company Research Source: Yahoo! Finance
10 stocks we like better than Planet Labs PBC › Call me a wild optimist, but I think Planet Labs (NYSE: PL) might be the best space stock to buy today. This may sound strange to hear. Just a couple of years ago, I was one of Planet Labs' biggest critics, faulting the company for promising big things in the run-up to its 2021 initial public offering (IPO) -- and then failing to live up to its promises. In my defense, I had good reason. Prior to its IPO , Planet Labs portrayed itself as an extraordinary growth stock. But promised sales growth rates of 50% and up, and gross margin rates in excess of 70%, were by 2023 coming in closer to 20% and 50%, respectively. Planet wasn't growing nearly as fast as it had hoped, nor generating nearly the profits it promised. But then, a miracle happened. It all started last January, when Planet Labs announced its biggest contract ever, a seven-year, $230 million deal "to expand its partnership with a long-standing, Asia-Pacific commercial Show less Read more
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