PLNT - Planet Fitness: The Valuation Is Too Expensive To Lift

I’ve previously written an article about Planet Fitness (PLNT) where I expressed my bearish outlook on the stock. Since the article was published last April, the S&P 500 rose by 20.6% and the stock is more or less break-even after flirting with a low of $51.0. My thesis back then was pretty straightforward - the pandemic had made it extremely difficult for gyms to operate and thus could shift consumers toward home workouts. Given recent developments on the coronavirus pandemic, I believe now that we are in the cusp of re-opening. I wanted

Read more ...