Fitness Fad FUBAR: FitBit Flounders As Planet Fitness IPO Fails

Is the fitness fad fubar? It appears so. FitBit is getting hammered – down 10% overnight…

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and new IPO Planet Fitness is trading notably below its “no brainer” IPO price level…

*PLANET FITNESS INC OPENS AT $14.50, IPO AT $16.00

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Perhaps a 43x P/E and 4.8x Price to Sales was a little too rich after all?

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