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Planet Lab Stock Drops After Hours: Here's Why

Planet Labs PBC PL shares dropped in Monday’s after-hours trading after the company announced a private offering of 300millionconvertibleseniornotesdue2023.PLstockischallengingresistance.Checkthefundamentalshere.TheDetails: Planetsaiditalsoexpectstogranttheinitialpurchasersofthenotesanoptiontopurchaseuptoanadditional300 million convertible senior notes due 2023. PL stock is challenging resistance. Check the fundamentals here.The Details:  Planet said it also expects to grant the initial purchasers of the notes an option to purchase up to an additional 45 million aggregate principal amount of the notes solely to cover over-allotments.Read Next: Opendoor’s Meme Stock Mania Gets Comedic TwistThe company pl ...