Planet Fitness: A Cautious Approach to Investing.

Planet Fitness shares have delivered a 696% total return since its IPO in 2015, outperforming the S&P 500's 288% return over the same period. However, there are concerns about the company's high valuation, with a price-to-earnings ratio of 35.1, and its reliance on membership sales, which could be impacted by COVID-19-related gym closures. Additionally, the company's revenue growth has slowed down in recent quarters, raising questions about its long-term prospects.