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Planet Fatness Topping

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

One of the standout momentum stocks of the past year has been Planet Fitness, but it’s become quite evident that a reversal of fortune has taken place. The topping pattern is complete, and even at these levels, the P/E ratio is more akin to a biotech startup than a company that sells memberships to people who sign up for the gym but don’t bother showing up.

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