Why Planet Fitness Stock Jumped to an All-Time High Today

Shares of gym chain Planet Fitness (NYSE: PLNT) jumped on Thursday after the company reported financial results for the third quarter of 2024. As of 3:30 p.m. EST, Planet Fitness stock was up 11%, but it had been up by even more earlier in the day and had touched all-time highs.It's quite the comeback for Planet Fitness. From late 2021 through late 2023, the stock lost about half of its value, with concerns from short sellers regarding its billing practices as well as worries after it parted ways with long-term CEO Chris Rondeau. But fears may have been overblown considering that the company's trailing-12-month revenue is at an all-time high.Planet Fitness grew Q3 revenue by 5% with a mixture of new locations and same-store sales growth of 4.3%. And not only did the top line grow, the company also grew the bottom line. It reported Q3 operating income of $81 million, up from $72 million in the prior-year period.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool