Planet Labs (PL) Rockets to All-Time High on Europe Expansion

Planet Labs PBC (NYSE:PL) is one of the 10 Stocks Investors Are Buying Now.

Planet Labs soared to a new all-time high on Wednesday, as investors took path from a combination of broader market optimism, as well as the progress of its manufacturing expansion in Europe.

In intra-day trading, Planet Labs PBC (NYSE:PL) soared to a record high of $37.05 before paring gains to end the session just up by 11.12 percent at $35.37 apiece.

Photo from Planet Labs website

The company said that it has begun recruiting highly-skilled German talent to operationalize its upcoming satellite manufacturing facility in Berlin, as part of its plan to double the production capacity of its next-generation, high-resolution Pelican fleet, while reinforcing the European country’s role as a hub for advanced aerospace engineering.

Some 70 individuals are targeted to be hired in addition to the existing 150 employees, including high-level leadership and specialized technical roles such as director of manufacturing, mission director for constellation services, and multiple engineering roles.

Berlin has served as Planet Labs PBC’s (NYSE:PL) headquarters for more than 10 years, acting as the Mission Control center for its global fleet of about 200 satellites. Its expansion would support the company’s $900 million worth of backlogs for the current fiscal period, which marked a 79 percent growth from fiscal year 2026.

“With this excellent backlog as well as our healthy pipeline, we project strong growth for this year and beyond,” said Planet Labs PBC (NYSE:PL) Chairman and CEO Will Marshall.

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