Planet Fitness Slumps Most on Record as Outlook Disappoints

Planet Fitness Inc. shares slumped the most on record after the budget-friendly gym operator cut its full-year revenue outlook, citing weaker-than-expected member sign-ups during the typically busy New Year period.

Shares dropped as much as 42% to the lowest in six years in New York trading, and were temporarily halted. That’s the biggest daily loss since it began trading in 2015 and adds to a 41% slide this year before today.