PLNT - Planet Fitness Has Cracked the Fitness Code
The fitness industry has notoriously been a fickle beast, where consumers, eager to get in shape, bounce around from one fad to the next. As a result, it can be difficult for a business to achieve long-term success in the space.
Even Peloton , with its popular line-up of connected-fitness equipment, is starting to see demand wane as the world slowly reopens and moves past the pandemic. What was once the hottest product in the industry has since cooled off significantly, and Peloton stock is down 40% in just the last month.
Planet Fitness (NYSE: PLNT) , however, has figured out a successful strategy in this challenging market. The gym stock thrives in a very interesting way.
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Planet Fitness Has Cracked the Fitness Code