Planet Fitness Stock Drops 30% After Guidance Cut and Pricing Hike Cancellation
Planet Fitness shares fell over 30% after the company slashed its revenue and sales growth guidance and canceled planned price hikes. Despite 21.9% revenue growth and 3.5% same club sales increase in Q1, the company cited internal and external challenges, including marketing issues, competition, weather, and macroeconomic factors.
Tickers: $PLNT
Topics: earnings guidance pricing_strategy revenue_growth stock_price_drop