Planet Labs Shares Slide 36% as ETFs Divest Ahead of SpaceX IPO
PL•Planet Labs shares have fallen 36% since May 28 as space ETFs shed positions ahead of SpaceX's June 12 Nasdaq debut. The upcoming IPO could renew investor focus on established space infrastructure companies like Planet Labs, potentially driving liquidity and supporting its long-term capex-driven cash flow outlook.
1. ETF Liquidation Trends
The Tema Space Innovators ETF and the Procure Space ETF both peaked around May 28 before plunging 24% and 19% respectively as investors raised cash ahead of SpaceX's June 12 Nasdaq debut, triggering broad sell-offs in space sector positions.
2. Planet Labs Stock Impact
Planet Labs has experienced a 36% decline over the same period as these ETFs offloaded space infrastructure exposure, reflecting heightened volatility and reduced demand for smaller-cap space equities.
3. IPO-Driven Outlook
SpaceX's forthcoming IPO could redirect investor capital toward established space infrastructure firms like Planet Labs, with expectations of renewed liquidity, potential rebound in share price, and support for its multi-decade capex and cash flow expansion plans.
