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Planet Labs Has Roller-Coaster Market Debut After Blank-Check Deal

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Planet Labs Goes Public via SPAC

Planet Labs PBC see-sawed in its first day of trading after the satellite imaging specialist became the latest space-focused company to go public in a blank-check deal.

The shares, which began trading on the New York Stock Exchange under the ticker symbol “PL,” alternated between gains and losses Wednesday, falling as much as 7.4% before rising 7.8%. The stock was up 2.1% to $11.04 at 11:43 a.m. in New York.