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 following reports of SpaceX's confidential IPO filing, potentially valued over $1.75 trillion. Additionally, speculation around Globalstar Inc.'s acquisition talks with Amazon.com Inc. has boosted sentiment in the space sector. Short interest in Planet Labs decreased from 37.48 million to 35.18 million shares, representing 12.44% of the company's float. 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.