What's Going On With Planet Labs Stock Thursday?

Planet Labs PBC (NYSE: PL) shares rose 16.67% to $35.83 on Thursday, driven by a sector-wide rally linked to SpaceX's confidential IPO filing, which could exceed a $1.75 trillion valuation. Additionally, speculation around Globalstar Inc.'s potential acquisition by Amazon.com Inc. is boosting sentiment in the space sector. Short interest in Planet Labs has decreased from 37.48 million to 35.18 million shares, 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.