A recent short thesis about Planet Fitness Inc (NYSE: PLNT) came under fire for being “light on fundamentals” and failing to mention the positive data points that had recently emerged for the company.
What Happened: A short report issued on Thursday by The Bear Cave, which is run by well-known short seller Edwin Dorsey, alleged Planet Fitness had issues with overbilling and uncancelable memberships — and is even lying about the locations of its gyms … Read more
Dorsey’s report alleged Planet Fitness relied on beginners for subscriptions and had a pattern of cancellation attempts being ignored. The report also said Planet Fitness “created a fake investor presentation slide to obscure franchisee saturation.”
Linda Bolton Weiser, managing director and senior analyst at D.A. Davidson & Co., disagreed with Dorsey’s short thesis.
“Short thesis is light on fundamentals,” Bolton …
