🔴 Planet Labs PBC is trading 6.7% down today amid SpaceX-driven sector rotation and profit taking

Planet Labs PBC is trading at $28.54 (down 6.7%) following a sharp multi-day swing and sector rotation tied to the SpaceX IPO.

• The stock previously fell 8.8% on June 12 due to divestment into SpaceX, followed by a brief rebound on June 15 before renewed selling and profit taking.
• Investors are reassessing the company's valuation amid strong but unprofitable growth and ongoing concerns regarding potential share dilution.