New Trade: Planet Fitness (PLNT)

ACTION:

Buy Planet Fitness (PLNT) common stock at current levels.

Dear Momentum Stocks Weekly Subscriber,

I have a New Trade today on a recent IPO that has a good, long-term story. Options are available to trade on the stock, but, for now, I’m holding off on making this a “covered call” trade.

Shares are currently a “buy” under $18, so let’s go check out the latest addition to our portfolio.

Planet Fitness (PLNT, $17.85, up $0.25)

Buy Planet Fitness (PLNT) common stock at current levels.

I like the stock at current levels and up to $18. I suggest using a Limit Order rather than a Market Order to get the best fill.

I would like to see shares clear $20 before possibly writing a covered call against the position.

I will provide a more detailed write-up and the parameters of the trade in tomorrow’s Mid-Week Update

All prices given in this update are current as of 2:25 p.m. EST.

I hereby disclose that I will be participating in the aforementioned trade(s). Every new Momentum Stocks Weekly recommendation is listed with the price at which I entered my own position. If the price is slightly different than my recommended entry or exit price when you receive the alert, don’t let that keep you from getting into or out of a trade. Occasionally, you might even get a better “fill” price than what is posted in the Open Trades and Closed Trades.

Trade on!

Signed

Rick Rouse
Editor
Momentum Stocks Weekly

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New Trade: Planet Fitness (PLNT)

CFTC Disclosure: