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Planet Labs Stock Soars 21.3% on €240M Satellite Deal
Generated by AI AgentAinvest Pre-Market Radar
Tuesday, Jul 1, 2025 9:30 am ET1min read
Planet Labs' stock surged 21.3% in pre-market trading on July 1, 2025, driven by a series of significant developments that have bolstered investor confidence in the company's future prospects.
Planet Labs has secured a €240 million satellite services deal, which involves providing dedicated capacity and direct downlink services on Pelican satellites over specific European regions. This agreement is expected to enhance the company's presence in the European market and strengthen its position as a leading provider of daily data and imagery.
In addition to this major contract,
has also won a multi-year contract renewal as part of a €240 million deal funded by Germany. This contract renewal underscores the company's ability to deliver AI-enabled solutions that meet the evolving needs of its clients.These developments highlight Planet Labs' strategic initiatives to expand its satellite services and AI capabilities, positioning the company for sustained growth and innovation in the satellite imagery and data analytics sectors.
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