On May 29, Planet Labs fell 5.53% in regular trading, trading at $47.345/share, with trading volume of approximately $83.68 million.

On the news front, a Blue Origin unmanned New Glenn rocket exploded during testing at a Florida launch pad, sending shockwaves through the space sector and triggering broad-based selling across related stocks. Planet Labs, as a representative company in the space sector, saw its stock price significantly dragged down by the incident. Peer BlackSky Technology plunged 13.18% on the same day.

Planet Labs had previously rallied from approximately $44 to above $50, driven by expectations surrounding its role as a key partner in Google's Project Suncatcher space data center deployment plan and the successful SpaceX Starship test flight. The Blue Origin explosion prompted profit-taking after the recent run-up, as investors reassessed short-term operational risks and technical challenges facing the industry. The company's next earnings report is scheduled for June 4.

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