Investors are betting that Planet Fitness (PLNT) members will soon be able to get their sweat back on -- in person, and with one another - so long as they stay six feet apart and wipe down what they use after they use it.
Indeed, investors were pumping shares of Planet Fitness higher on Friday on expectations that the gym and fitness chain will be among the first allowed to reopen its doors under President Donald Trump’s phase one recommendations to restart the U.S. economy.
The administration's 18-page guidance document, revealed on Thursday, details three phases to reopen state economies, with each phase lasting, at minimum, 14 days.
Phase one includes much of the current lockdown measures such as avoiding non-essential travel and not gathering in groups, though it says large venues such as restaurants, places of worship and sports venues "can operate under strict physical distancing protocols."
That was enough for investors to push Planet Fitness stock up more than 11% to $55.50 on Friday - on the assumption that the chain and other gyms will be able to open themselves back up - so long as they adhere to the guidelines and protocols.
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