PLNT - Why Planet Fitness Stock Plunged This Week
2023-05-04 17:05:00 ET
Week to date, shares of Planet Fitness (NYSE: PLNT) were down 16%, according to data provided by S&P Global Market Intelligence . The gym operator reported worse-than-expected earnings results for the first quarter.
The company demonstrated growth in the right metrics that point to solid footing in its growth trajectory. The market's focus on the miss, relative to expectations, might give long-term investors a good buying opportunity.
Stock prices can often swing wildly after earnings reports if revenue and earnings per share don't meet the Street's estimates. When the stock is trading at a valuation that implies high growth expectations, an earnings miss can torpedo the stock in the near term.
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Why Planet Fitness Stock Plunged This Week