I just removed the paywall on the Planet Fitness initiation (April 2026).
As I note in the conclusion, “Planet Fitness (PLNT) has pulled a number of levers over the past 10-15 years to drive better financials, but I suspect there’s less low hanging fruit left to be picked. The road ahead will likely feature heightened HVLP [high-value, low-price gym] competition and less room to take price. If that proves accurate, I will be interested to see how Mr. Market responds as the financials start lagging management’s targets.”
The company has since reported Q1 FY26 and Q2 FY26 results, with current FY26 guidance well below the growth anticipated in the outlook provided at the November 2025 Investor Day. As shown below, the stock has responded accordingly, with PLNT shares down ~40% since the initiation was published.
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