Planet Labs PBC (PL) shares surged 5.14% during intraday trading on Tuesday, reflecting heightened investor interest.
The move comes as the satellite imaging company is set to report its first-quarter earnings later this week, with options traders anticipating significant volatility around the announcement. Additionally, the company has shipped its Pelican-11 technology demonstration satellite to Vandenberg Space Force Base for an upcoming SpaceX Transporter-17 rideshare launch.
Pelican-11 is designed to test new Generation 2 satellite technologies, including the capability for up to 30 cm-class imagery, which represents an upgrade from the current 50 cm-class design. While this mission is not expected to generate commercial data, it serves as a research and development effort to de-risk future satellite fleet deployments. Planet Labs also plans additional Pelican satellite launches in 2026 and 2027.