Planet Fitness Shares Tumble More Than 10% In Their Trading Debut

Planet Fitness Inc. shares got off to a weak start on their first day of trade Thursday, shedding more than 10% to trade at $14.30 in the first few minutes, below their issue price of $16. The company sold 13.5 million shares to raise $216 million. Shares are trading on the New York Stock Exchange under the symbol "PLNT." The move comes a day after Fitbit Inc. shares were hammered following a stronger-than-expected earnings report by apparent disappointment at the company's failure to unveil any new products.