🟢 PL is trading 9% up on space sector rally linked to SpaceX IPO speculation

PL is trading 9% up at $48.36 today, driven by a broad rally in space-related stocks.

• Investor sentiment for the entire space sector has been boosted by speculation that SpaceX could soon pursue an IPO.
• The move extends recent momentum for Planet Labs, which has seen positive developments in May, including releasing the first images from new satellites and securing a deal with the Czech government.
• The rally is occurring on strong sector-wide sentiment rather than any new company-specific announcements today.