Tic-tac-toe, three in a row -- good news keeps flowing for Planet Labs (PL +16.84%) stock this morning, helping the space stock explode 15% higher through noon ET.
Yesterday, as you may have heard, rumors surfaced that SpaceX will file for its IPO this week (or next -- no one's 100% certain). Next came the big "Ignition" announcement from NASA Administrator Jared Isaacman, with the space agency promising to spend some $20 billion to build an American moon base by 2032. Finally, just this morning, Planet Labs announced it has begun recruiting engineers to staff its new satellite manufacturing facility in Germany -- ramping up its business and taking Planet international.
Image source: Getty Images.
SpaceX and NASA
Starting with the SpaceX news, word has it SpaceX may raise $75 billion in the biggest IPO ever, valuing SpaceX at $1.75 trillion or more. Space investors are seeing dollar signs and (rightly or wrongly) assuming that what's good news for SpaceX will be great news for all SpaceX stocks.
Next to a $75 billion IPO, NASA's Ignition plan to put astronauts on the moon "semi-permanently" almost sounds like small potatoes -- but it's NASA's biggest project since the Apollo landings. What does it have to do with Planet, which builds satellites to take pictures of Earth?
Not much at this point, but it makes sense that once we have people on the moon, NASA might hire Planet to put a few moon observation satellites up there to keep an eye on them.
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A German Planet
And the German news? Basically, this is a revenue story. Planet says setting up a factory in Berlin will let it double its capacity of Pelican imaging satellites. More satellites means more money for Planet, confirming the company's status as a growth stock.
Big things lie ahead for tiny Planet.
