Surge in Satellite Stocks: Reasons Behind the 470 Billion Won Increase in Market Capitalization in Just One Day

Planet Labs PBC (NYSE: PL) shares climbed 5.65% on January 13 in New York, closing at $26.73 and lifting the company’s market capitalization to about $347 million (roughly KRW 470 billion). This followed a 12% surge the previous day on news of a multi-year, low-nine-figure contract with the Swedish military, marking two consecutive days of gains and heightening expectations that Planet Labs will benefit from the defense and space sector themes.

On January 14, local investment outlets reported that Wedbush raised its price target for Planet Labs and issued a positive outlook. At the same time, institutions such as Barclays and Invesco significantly increased their holdings during the latest quarter. Despite insider sales—including partial divestments by founder Robert (“Robbie”) Schingler and other employees—institutional ownership remains above 40%.

Founded in 2010 by former NASA scientists, Planet Labs is a satellite imagery and geospatial intelligence firm that operates hundreds of small satellites in low Earth orbit to capture daily changes across the planet’s surface and sells the resulting data via subscription. More recently, the company has accelerated its transition into a “space data platform,” leveraging its next-generation Pelican satellites and AI-driven analytics to expand its customer base into defense and intelligence agencies, insurance, agriculture and other industries.