The Best Space Stock to Invest $1,000 in Right Now

Call me a wild optimist, but I think Planet Labs (NYSE: PL) might be the best space stock to buy today.This may sound strange to hear. Just a couple of years ago, I was one of Planet Labs' biggest critics, faulting the company for promising big things in the run-up to its 2021 initial public offering (IPO) -- and then failing to live up to its promises.In my defense, I had good reason. Prior to its IPO, Planet Labs portrayed itself as an extraordinary growth stock. But promised sales growth rates of 50% and up, and gross margin rates in excess of 70%, were by 2023 coming in closer to 20% and 50%, respectively. Planet wasn't growing nearly as fast as it had hoped, nor generating nearly the profits it promised.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool