How to Buy Planet Labs Stock | Invest in PL

Summary: Planet Labs (NYSE: PL) is one of the world’s leading satellite imaging companies. If you’re looking to buy Planet Labs stock, one of the most convenient ways of investing in PL is through a regulated and reputable brokerage platform like Interactive Brokers.

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About Planet Labs

Planet Labs (Planet) is a company that specializes in Earth imaging and satellite data. They operate a large fleet of small satellites that capture images of the Earth’s surface daily. These images are used for various purposes, including monitoring environmental changes, tracking agricultural developments, and aiding disaster response efforts.

The company was founded in 2010 with a mission to provide daily, global Earth imagery to users around the world. Over the years, they have amassed a vast archive of high-resolution satellite images, making them a valuable resource for businesses, governments, and researchers.

Planet Labs IPO

Planet went public with an initial public offering (IPO) on December 8, 2021, offering its shares on the New York Stock Exchange (NYSE). The IPO price per share was set at roughly $10, with the shares being traded on the NYSE under the ticker symbol PL.

How to buy Planet Labs stock: Step-by-step

Now that you have a basic understanding of Planet Labs, let’s dive into the step-by-step process of buying PL stock. So, here’s how you can get started:

Step 1: Choose a brokerage account

To buy PL stock, you’ll need a proper brokerage account. There are many of them out there; however, it’s key to choose one that suits your investing strategy the best. Thus, you should consider a reliable, secure, and regulated investing platform that has PL stock listed so that you can conveniently invest in it.

With this in mind, our go-to brokerage for buying Planet Labs stock is Interactive Brokers—a popular platform that’s licensed by authorities like the US SEC and CFTC. The platform also offers a host of solid features for investors of all kinds, such as:

• Commission-free stock and ETF trading;
• Trade stocks on 90+ market centers;
• Fractional stock trading;
• Earn extra income on fully paid shares;
• Lowest financing rates for margin accounts in the industry;
• No account minimum.

Best Platform for Worldwide Stock Trading & Investing

• Highly trusted multi-asset broker with clients in over 200 countries

• Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

• Low commissions starting at $0 with no platform fees or account minimums

• Easily fund your account and trade assets in 26 currencies

• IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

Get Started

Step 2: Fund your account

After you select a brokerage and open an account, you’ll need to deposit funds into it. This is the money that you’ll use to buy PL stock. Still, it’s key to remember that buying stock on certain brokerages will include additional fees, so make sure that you deposit enough money into your newly made account.

Step 3: Place an order

Once you’re ready to buy PL stock, log into your brokerage account and navigate to the trading platform. Search for Planet Labs using its ticker symbol PL and do the following:

• Specify the number of PL shares you want to purchase, and make sure you have sufficient funds in your account to cover the purchase;

• Choose the type of order you want to place. The two most common types are market orders (buy at the current market price) and limit orders (buy at a specific price or better);

• Review your order details, including the number of shares and order type, and when you’re satisfied, confirm the order.

Step 4: Monitor your investment

Finally, after purchasing PL stock, you should keep an eye on its performance. You can track your investment through your brokerage account and adjust your strategy if the need arises. Note that although this might seem like an unnecessary step, it’s actually rather important for smart and responsible investing.

PL price today

Pros and cons of buying Planet Labs stock

Before you invest in Planet Labs stock, it’s essential to weigh the advantages and disadvantages. As such, here are some pros and cons to consider:

Pros

• Innovative technology: Planet Labs’ satellite technology and Earth imaging capabilities are cutting-edge, with numerous applications in various industries;
• Global data: The company’s vast satellite network provides real-time data on global environmental changes, making it a valuable resource for researchers and businesses;
• Growth potential: If Planet Labs continues to expand its services and customer base, it could lead to substantial stock price growth.

Cons

• Volatility: Like all stocks, PL can be subject to price fluctuations. Be prepared for the possibility of short-term losses;
• Competition: The Earth imaging and satellite data industry is competitive, with other companies vying for market share;
• Market sentiment: Factors like investor sentiment, news, and market trends can influence PL’s stock price, sometimes irrationally.

What to avoid when buying stock

While investing in Planet Labs can be exciting, it’s crucial to avoid common mistakes and pitfalls. Therefore, here are some things to steer clear of:

• Rushing in: Don’t rush into buying PL stock without conducting proper research. Take your time to understand the company and its industry;

• Overcommitting: Avoid investing more money than you can afford to lose. Diversify your investment portfolio to spread risk;

• Ignoring fees: Be aware of brokerage fees, which can eat into your profits. Choose a brokerage with competitive fee structures;

• Market timing: Trying to time the market can be risky. Instead of attempting to predict price movements, focus on long-term investing.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Planet Labs stock

Best Platform for Worldwide Stock Trading & Investing

• Highly trusted multi-asset broker with clients in over 200 countries

• Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

• Low commissions starting at $0 with no platform fees or account minimums

• Easily fund your account and trade assets in 26 currencies

• IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

Get Started