You should definitely register for SA especially now that they're having that open house on their PRO level reports. Basic registration--that's what I have--is free.
I just spotted a notice on SA that the Open House ends in 6 days, although that may vary with the user. Perhaps some members don't get the Open House at all. I'm no expert on SA.
There's a second PRO-level report on Planet Fitness which is dated March 7. It's also very negative about the stock, and more blunt in its criticism than that first report.
For example: "Planet Fitness, Inc.'s (NYSE:PLNT) financial statements are as misleading as their ads and you need to read the fine print".
That report concludes:
"In my March 2016 article, I covered PLNT's business model and the fitness industry. My August article covered their complex financial structure and included information about the tax benefit liability with TSG. This article was to alert PLNT investors to possible lower future growth and raise the issue about a potential future technical default on their bank debt.
I often write about bankrupt companies and there are almost always yellow flags prior to bankruptcy/restructuring that should have alerted investors to the direction the company was headed. Previously, I just thought that PLNT was just overpriced, but now I think that there is a potential for some type of restructuring within a few years.
With a lower growth outlook and a potential for a future technical default, I rate PLNT a strong sell. For investors willing to assume risk, I rate PLNT a short sell.
Disclosure: I am/we are short PLNT."
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Because the Good Life is Just a Pump or Two Away
