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Home > Fitness Fad FUBAR: FitBit Flounders As Planet Fitness IPO Fails

Fitness Fad FUBAR: FitBit Flounders As Planet Fitness IPO Fails

By Tyler Durden
Created 08/06/2015 - 09:22
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 08/06/2015 09:22 -0500



 

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

[2]

 

 

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

[3]

 

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

 

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Source URL: http://www.zerohedge.com/news/2015-08-06/fitness-fad-fubar-fitbit-flounders-planet-fitness-ipo-fails

Links:
[1] http://www.zerohedge.com/users/tyler-durden
[2] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/08/20150806_fit1.jpg
[3] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/08/20150806_fit2.jpg