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Life Time stock plummets as company spends more on premium fitness experience

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Life Time said the investments — including new pickleball courts and personal training programs — have helped to drive member engagement at its clubs.

Life Time Group shares plummeted 15% after the company's third-quarter results revealed higher spending to boost the premium member experience.

Life Time CEO Bahram Akradi said the investments — including new pickleball courts and personal training programs — have helped to drive member engagement at its clubs, with average member visits up 24% since 2019. The company has a total of 170 centers."With 150 billion impressions a year it's time for Lifetime to start expanding," said Akradi.

"We aren't taking advantage of all the different connections we have and all the different programs we have, so there is essential work being done to systematize all of that." said Akradi."Any product that we put out there has to be absolutely the best."

 

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