The pandemic brought a massive fear to fitness clubs and visitors. Training at home isn’t interesting as at sports clubs. Opening the fitness centers became a smart move to authorities by letting many people keep their fitness. Right now, even during the widespread pandemic, the fitness clubs are emerging slowly so their publicly listed companies are facing some surging moves of their stocks.
On Friday, Town Sports International (NASDAQ: CLUB) jumped 48.43% to $0.6945 having an increased demand for its 11,860,646 shares. Usually, CLUB owns 1,005,315 shares on average trading volume.
Long term investors could be urged by CLUB’s 0.70 EPS to consider buying after analyzing a couple of hours. Gamblers or visionary investors may have predicted this price move after the lockdown. Maybe the fitness clubs will close again during the COVID-19’s second wave.