Plant Labs does have competition, but Needham recently set a $10.50 target on the stock and noted that it is the only company with a daily scan of the entire Earth, and it has a 5-year lead on its nearest competition.   The analyst expects revenue to grow 39% in 2023 and 55% in 2024.

The stock has been under pressure like other de-SPACs but has found support at $5 and has made one push up to $6.75, which is the 50-day simple moving average.

As always, we would not chase strength in the stock to start the week but will look to aggressively trade it on a pullback to $5.50 support or on a move over recent highs around $6.50.

With the instability in the global political situation, services like PL will be in great demand.

This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell, or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength and will buy or sell at any time for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees, and affiliates of Shark Investing, Inc. and/or principals, clients, employees, and affiliates of Hammerhead Financial Strategies, LLC, directly or indirectly, controlled investment and/or trading accounts containing positions in PL To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.