Fitness Fad FUBAR: FitBit Flounders As Planet Fitness IPO Fails

By Tyler Durden of Zero Hedge

Writer at ZeroHedge • Aug 6, 2015 at 11:51 AM EDT

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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