Jun. 17 at 8:13 PM
$PTON $XPOF $PLNT
Fitness stocks fall after Senate bill omits health savings accounts
Shares of Peloton (PTON), Xponential Fitness (XPOF) and Planet Fitness (PLNT) closed lower Tuesday after Senate's proposed bill omitted the House's provisions allowing for the use of health savings accounts for certain fitness allowances.
The House's bill allowed for gym memberships and other physical fitness activities to be paid for with HSAs, up to a limit of
$500 per year for individuals and
$1,000 per year for families. The exclusion of the "Personal Health Investment Today Act" in the Senate bill is "disappointing" and removes a "growth lever" for Peloton, wrote BofA analyst Curtis Nagle.
