PLNT - Is Planet Fitness Stock a Buy?
Planet Fitness (NYSE: PLNT) was on quite a hot streak prior to the onset of the coronavirus pandemic. From its IPO in Aug. 2015 to Feb. 20 of this year, the stock had gained 450%. It had all the makings of a growth stock as revenue nearly doubled from 2015 to 2019.
The last few months, however, have been a roller-coaster ride for the company as the COVID-19 health crisis forced it to temporarily shutter locations across the United States. While 1,200 Planet Fitness gyms were reopened by mid-June, a surge in new coronavirus cases is prompting some state governors to restrict business operations yet again. Investors looking for any sort of clarity will have to wait, but I still believe the stock should be on your watch list.
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