What's Going On With Planet Labs Stock Thursday?

Planet Labs PBC (NYSE: PL) shares rose 16.67% to $35.83 amid a sector-wide rally, driven by speculation surrounding SpaceX's potential IPO, which could exceed a $1.75 trillion valuation. Additionally, acquisition talks involving Globalstar Inc. and Amazon.com Inc. have further boosted sentiment in the space sector. Short interest in Planet Labs decreased from 37.48 million to 35.18 million, with 12.44% of the company's float remaining short. The stock is currently trading 24.8% above its 20-day simple moving average and is just below its 52-week high of $37.05 after a significant 882.68% increase over the past year.