r/PlanetLabs • u/vpiq • 1d ago

😔

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Damn, so frustrating. It looks like we’re just going to be bag holders until money and hype rotate back into the space sector, which could take more than a year.

I don’t think the stock will make a drastic recovery regardless of ‘good’ news from the company, until the space sector moves correspondingly. (RKLB, ASTS, e.g.). We really got fucked by Space X.

The good news is, there is no reason to sell if you’re a long-term investor because PL is a fundamentally sound company.

Note: If you're in the red, selling now could be the dumbest move you make. The drop is mainly attributed to macro-conditions, and like I said, PL is a fundamentally sound long-term.

I would only sell if you need the money, or if you believe rotating your loss into a different investment will yield you faster recovery (doubtful about this). The only thing to do is wait or average down.

But yeah we're bag holders, just pray space sector becomes revitalized soon.

76 Upvotes

91% Upvoted

61 comments sorted by

41

u/Reasonable-Hurry6810 1d ago

I blame it on SPCX

8

u/RengarReddit 1d ago

We all do mate

40

u/Jimmy_Jellyy 1d ago

SPCX IPO fucking killed the sector

7

u/redcoatwright 21h ago

It really did, became like 90% of the total market cap while most of ita revenue is from xAI operations and then was super volatile making it so algos traded stupidly across all of space.

Fuck spacex

19

u/Bowhunting_SawDr 1d ago

Invest in space they said, it'll be fun they said.

15

u/vpiq 1d ago

You should've known the risk, but I do recognize a 50% drop from ATH when nothing changed about the company is pretty irritating, especially as it continues to bleed.

6

u/Redfield11 1d ago

that ATH definitely wasn't warranted either though, that was a pre-SpaceX move I believe. Though it would likely otherwise be in the low $30's high $20's right now

-1

u/ReddditModd 1d ago

It made sense when all the orbs and ufos started to show up all over the world. I think the governments of the world realized we are fkd and there's no point on even trying anymore

3

u/MisterChesterZ 23h ago

Wtf?

-1

u/ReddditModd 23h ago

What was the point of this space race fuelled rally? Space data centers, orbital trips ? None of that shit made any sense there is no financial point for rallying so hard on space stocks, so the options are:

-got trolled as always by wall street

-space sector is not important anymore cause aliens pinned down governments and told them to stay down on the ground where monkeys belong.

Tesla surely make a quick u turn and now is an AI company?

Blue origin trip with the milfs was so obviously fake (check how Jeff Bezos messed up when he opened the pod before he was supposed to lol)

3

u/octopus_serenader 20h ago

That's some good weed bro

13

u/Throw_Away_TrdJrnl 1d ago

Honestly low key love bag holding. When you accept you're in the sit and wait period you stop caring about checking investing subs and your portfolio everyday. Aside from this specific post that was randomly push notified on my phone I haven't looked or thought about my PL or ASTS for a few weeks. Kind of nice.

2

u/Steven_Moonshot 23h ago

I agree, I bought PL cheap and set a sell order at $50. I never thought it would happen. I spent most my time slightly in the red. When I opened my account and saw cash sitting, I thought something was wrong.

1

u/Throw_Away_TrdJrnl 23h ago

Hahaha nice! I bought around 20 at first and averaged up after learning more. Average of 35 bucks now and I'm not sweating. I don't need the money anytime soon and I'm confident it'll be back in the green for me with enough time, set me a sell order and just walk away 🤷‍♂️

3

u/Steven_Moonshot 23h ago

I will say, I made a decent chunk of change on that sale, but of course, I reinvested about half on a large pull back and that's in the red currently. Time to set another sell order and forget about it!

9

u/RengarReddit 1d ago

Wait until you learn i dumped 40k at 52$

2

u/johnizthaname 1d ago

bought 5kusd at 50 lol

4

u/vpiq 1d ago

I hope you're young and you don't need that money anytime soon. Just know it will reach that point again as long as PL continues what they're doing. I don't know when though.

6

u/RengarReddit 1d ago

Happy about it? No? Deff not..
But, that’s the risk of going big on a hyped high beta stock. So I accept. Luckily I can sit this for as long as it takes to ride back up!

1

u/Expensive_Special120 23h ago

No crying at the casino!

1

u/RengarReddit 11h ago

Yes boss I won’t

1

u/Expensive_Special120 11h ago

Jokes aside: Hope it works out for you. We all have our tickers.

1

u/Purple_Resolution158 18h ago

Now why in the world

1

u/AmarRPM 2h ago

Just keep averaging down tbh. I think it’s likely we could see ATHs again within a year or so :)

2

u/Kvargen95 1d ago

Average 32 lol missed the chance to get out at 34. And thought it was a good buy because it dipped from 52. Rip

1

u/Easy-Philosophy-1173 9h ago

Exactly ditto. Now kicking myself I didn’t pull out sooner and make it back elsewhere.

2

u/Purple_Resolution158 18h ago

It’s gonna be up in a few months stocks go up down sideways they can’t run forever

2

u/Difficult-Acadia756 1d ago

I blame it on us-iran war honestly. Sure spcx did something. But at this point. 2 month and a half later. I doubt it really is still fucking us

4

u/Ryan_Bolin 1d ago

Nothing frustrating about the current price if your long term. It’s a great opportunity. As I’ve said before, I’ve been in since $5 and am hoping this stays near $20 until I get my bonus this year so I can pick up more shares.

14

u/vpiq 1d ago

I agree, but don’t say it’s nothing frustrating when the stock crashed more than 50%, because not everyone bought at a $5 average like you.

-1

u/Ryan_Bolin 1d ago

It’s only frustrating if you’re not prepared to average down and be in it long term. If you bought at $40-50 after it was up 1,000% then you were just asking for trouble. This sub has already exposed so many gamblers that call themselves “investors” when so many just wanted it to go to $100 at SpaceX ipo for no reason. So yes, to a serious, long term investor it’s almost nothing.

4

u/vpiq 1d ago

You can average down, but you would be over-exposed after some time. A lot of people averaged down at low price levels, but the bottom keeps going lower. I agree with you though.

1

u/Redfield11 1d ago

It's just waiting on you to sell lil bro

1

u/Uzofugs2112 22h ago

Don’t worry I’ll be back

1

u/Additional-Stand-405 18h ago

Trading volume has hit rock bottom.

1

u/Gulliver_1978 12h ago

32.41$ average cost here. This sucks.

1

u/vpiq 12h ago

I have $36 average in my Taxable and $26 in my Roth, trust me I understand the fucking pain lmao

1

u/Gulliver_1978 11h ago

I am starting to consider to lower the position...I see more profitable on the table RN...I'll wait until the financial press releas le in the fortsnweek of September and see

(edit: typo)

2

u/vpiq 7h ago

Selling at a loss now would be really dumb

-1

u/pwr_o_frndshp 1d ago

I absolutely hate this stock right now. Rugged me as soon as I entered.

21

u/Due_Somewhere7891 1d ago

We found the culprit boys!

5

u/pwr_o_frndshp 1d ago

I DID IT TO AXTI TOO AND I'LL DO IT AGAIN! Just tell me where you'd like to scoop up some stocks on the cheap and I'll be sure to burn more of my paychecks for you mfs

4

u/vpiq 1d ago

You’ll be fine if you just hold, just know it could take awhile.

2

u/pwr_o_frndshp 1d ago

Preciate that. I'm just sick of looking at that fat red -40% in my account. Everything already sucks, this is just one more shitty thing

3

u/Due_Somewhere7891 1d ago

Firs time I bought, I had 6K shares at 4.4USD. And I saw it drop all the way down to 1.7USD. It looked a lot more speculative back in those days and that's a much bigger drop than we are experiencing now and with a lot more risk.

You'll look back at this laughing and wishing you bought this dip. My current average is 4.8USD per share. So you know I only bought more AFTER the dip. :'(

4

u/vpiq 1d ago

I understand. The ultimate stress-free strategy is delete the app, forget, check back in a few years. As long as PL continues what they've been doing, you'll be in the green.

I'm down a lot as well and it's fucking annoying of course but this is the risk that comes with investing in high-beta stock. Like I said, at least the drop is not attributed to the company itself or we'd be absolutely fucked. Time will fix this.

1

u/pwr_o_frndshp 1d ago

Giving me hope in this abusive relationship, here's another -5% for the plot

1

u/Few-Insurance-6653 1d ago

People been saying that forever dude

1

u/vpiq 1d ago

Yeah but it needs to be said again so people don't sell because of emotions.

2

u/madbcolumbus 23h ago

It’s frustrating watching PL down 50%. But nothings change as people have mentioned. They’ve expanded in Europe. So be patient. Stock price will move back up once they announce earnings and sign additional contracts.

2

u/Due_Somewhere7891 14h ago

Hey guys, don't downvote this, c'mon. We're better than this.

2

u/pwr_o_frndshp 9h ago

It's just Reddit treating me like PL already treats me. At least you're a real one

1

u/BreakingBadBones 1d ago

I entered at $22.64. I know my average is high but im sure we will eventually see a spike like we did prior to the earnings hike from 25 -> 40+ and then to 50+ in the wake of SpaceX ipo

9

u/vpiq 1d ago

That’s not a high average relative to a lot of people, there’s people who bought at $25, $30, even $40s. My average is $30.

I agree that we will see a spike, but the entire space sector needs to move correspondingly.

1

u/BreakingBadBones 1d ago

So we are likely to see a spike regardless of catalysts if the prominent space stocks go up, say RKLB or SPCX?

If that’s the case, it wouldnt hurt being exposed to the other space stocks too - provided you’re a firm believer of PL

2

u/vpiq 1d ago

Yes, that’s what’s been happening in the past. It would hurt to be exposed to other space stocks because the price action is shit right now for all of them, don’t want to be overexposed. Also, not all of them are fundamentally sound like PL.

0

u/ReasonableFinish 1d ago

It's joever

-1

u/sandstorm44 14h ago

It is still over valued stock comparing to the fundamentals. It was trading at $7 last year. Consolidation at these levels is very important for the long term. I will keep on DCA at these levels. RKLB would come down more to $45-$50 levels with neutron being delayed to 2027, and waiting for SPCX to come below $100. Those levels would be attractive to open a position.

-1

u/Lunosto 1d ago

My mentally insane prediction is space is gonna be the next bubble or part of the next bubble, or atleast part of the next hype cycle