What Does Planet’s SPAC Plans Mean For The Satellite Industry?

As investors around the world prepare to shoot a couple of billionaires into space, they may be missing the growing opportunity on Earth.

There really is nothing final about the frontier of space anymore following the rise of private cosmos-focused businesses over the past two decades. 

However, perhaps investors should be looking a bit less at the stars, and closer to our own atmosphere.

A different kind of space investment

While most investors probably think of Branson, Musk, and Bezos when it comes to private space companies, there are many others in this arena that represent interesting growth opportunities. 

Astra Space just went public via SPAC last week, while only this Tuesday, satellite Earth imagery specialist Satellogic announced its intentions to float in the same manner. Then that brings us to yesterday, when Planet, an Earth-imaging satellite company with over 200 units in orbit, announced its intentions to go public via a reverse merger with dMY Technology Group IV (NYSE: DMYQ).

So what does all this mean?

Well, satellites are a very important business, as they’re essential to entertainment, defense, data collection, telecommunications, and so much more. In fact, in 2020 the global satellite industry generated roughly $271 billion in revenue — and its commercial applications are growing rapidly, as you’ll see from the chart below. 

Space investing isn’t for everyone, but almost everyone’s lives are enhanced by satellites in some way, and this is only going to grow. And as I’m sure most readers are aware by now, we at MyWallSt are all about investing in what you know

Investors will no doubt be glued to Virgin Galactic’s first fully crewed test flight this weekend, but there should also be some interest in the satellite business’s growth. With so many options — that’s three in 2021 alone — and SpaceX’s Starlink expected to spin off within the next couple of years, we’re really only getting started.

Any sort of investment in space can be an exciting one, though that also means that it comes with plenty of risk. That’s why, here at MyWallSt, we’ve got a proven, market-beating shortlist of stocks that can help you to build the perfect, reduced-risk portfolio. Simply click here now to avail of free access. It’s the best investment you’ll ever make.


MyWallSt operates a full disclosure policy. MyWallSt staff currently holds long positions in companies mentioned above. Read our full disclosure policy here.