Planet Labs Soars 10.5% on 9-Figure Swedish Satellite Deal – What’s Next for the Space Imaging Giant?

Summary
• Planet Labs (PL) surges 10.5% intraday, hitting a 52-week high of $25.20.
• A multi-year, low 9-figure contract with the Swedish Armed Forces drives the rally.
• Technicals show RSI at 80.35 (overbought) and MACD above signal line with bullish divergence.

Planet Labs (PL) is experiencing a historic intraday rally, fueled by a landmark deal with Sweden. The stock’s 10.5% surge—its largest single-day move in over a year—reflects growing demand for its satellite solutions in defense and security. With the stock trading near its 52-week high and technical indicators flashing bullish signals, investors are scrambling to assess the implications of this strategic win.

9-Figure Swedish Satellite Deal Ignites PL’s Intraday Surge
Planet Labs’ 10.5% intraday jump is directly tied to its announcement of a multi-year, low 9-figure contract with the Swedish Armed Forces. The deal involves selling both satellite hardware and data, marking a strategic pivot for the company. Unlike previous contracts where Planet retained ownership of its satellites, this agreement allows Sweden to own the hardware while accessing Planet’s high-resolution data. Management highlighted the contract’s potential to add at least $10 million annually in revenue over its term, a significant boost for a company with $282 million in annual revenue. The deal also aligns with global trends of nations accelerating space-based defense capabilities, particularly in Europe.

Aerospace & Defense Sector Quiet as PL Outpaces Peers
Options Playbook: High-Leverage Calls and Gamma-Driven Bets
• RSI: 80.35 (overbought)
• MACD: 2.12 (above signal line 1.97)
• Bollinger Bands: Price at $25.0954 (above upper band $23.49)
• 200D MA: $9.05 (far below current price)

Planet Labs is in a short-term bullish breakout, with technicals suggesting momentum could extend toward the $25.20 52-week high. The stock’s RSI at 80.35 indicates overbought conditions, but the MACD histogram’s positive divergence and Bollinger Band breakout suggest continuation. For options traders, the PL20260116C23 and PL20260116C22.5 contracts stand out:

• PL20260116C23 (Call, $23 strike, Jan 16 expiry):
- IV: 120.31% (high volatility)
- Leverage Ratio: 10.05% (high)
- Delta: 0.7596 (moderate)
- Theta: -0.2473 (rapid time decay)
- Gamma: 0.0879 (high sensitivity)
- Turnover: $86,058 (liquid)
- Payoff (5% upside): $2.35/share (max(0, 26.35 - 23)).
This contract offers explosive potential if PL breaks $25.20, with high gamma amplifying gains as the stock rises.

• PL20260116C22.5 (Call, $22.5 strike, Jan 16 expiry):
- IV: 133.35% (very high)
- Leverage Ratio: 8.55% (high)
- Delta: 0.7856 (moderate)
- Theta: -0.2531 (rapid decay)
- Gamma: 0.0744 (high)
- Turnover: $12,610 (liquid)
- Payoff (5% upside): $3.85/share (max(0, 26.35 - 22.5)).
This contract provides a balance of leverage and liquidity, ideal for a continuation of the current rally.

Aggressive bulls should target PL20260116C23 into a break above $25.20.

Backtest Planet Labs Stock Performance
The backtest of PL's performance after a 11% intraday increase from 2022 to now shows mixed results. The 3-day win rate is 50.20%, the 10-day win rate is 49.60%, and the 30-day win rate is 49.40%. While the maximum return during the backtest was 12.65% on day 59, the average returns over 3, 10, and 30 days were only 0.50%, 1.91%, and 5.90%, respectively.

Bullish Momentum Unlikely to Subside – PL Eyes $25.20 52W High
Planet Labs’ 10.5% intraday surge is a watershed moment, driven by a strategic shift toward selling satellite hardware alongside data. With technicals aligned for continuation and the options market pricing in high volatility, the stock is poised to test its $25.20 52-week high. While the Aerospace & Defense sector leader Lockheed Martin (LMT) remains flat at +0.55%, PL’s momentum suggests it could outperform sector peers in the near term. Investors should monitor the $25.20 level as a critical breakout threshold—failure to hold it could trigger a pullback toward the $23.16 intraday low. For now, the message is clear: Planet Labs is in the driver’s seat, and the stars are aligning for a new chapter in its growth story.