Planet Labs stock (PL) faces extreme volatility following a $1.5 billion equity offering that triggered a sharp selloff. This move disrupted the near-term trend and brought momentum indicators into oversold zones, complicating the outlook. The daily chart reveals a bearish bias as price closed at $32.22 on June 5, significantly below the EMA20 at $42.93 and EMA50 at $38.89. This wide gap indicates a genuine breakdown rather than a simple pullback. Although the EMA200 at $25.62 remains a distant support, it does little to reassure positions entered above $40.