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Data: Investing.com; Chart: Axios Visuals

After a rocket rise over the past five years during which it jumped from $17.81 a share in August 2015 to more than $75 a share in April, Planet Fitness' stock has been unimpressive in recent months. It sold off after the company beat earnings expectations Tuesday but missed on expected growth.

What's happening: Concern is beginning to grow about the sustainability of the company's business model, which relies on consistently bringing in members who don't actually use the gym and churning out increasing revenue from franchisees, the Wall Street Journal's Spencer Jakab writes.

  • "Planet Fitness makes much of its money by keeping 7% of membership fees paid to franchisees, who control over 95% of its gyms. It raised its take from 5% back in 2017. No small part of its growth in the past couple of years has reflected this increase in what it charges," per Jakab.
  • "While franchisees keep showing up, though, there are limits to how high the parent company can take the fee without choking off growth," he writes.

Go deeper: Ex-Twitter CEO is shutting down his fitness startup

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Arrest over letter to Trump containing poison ricin

President Trump returning to the White House from Minnesota on Sept. 18. Photo: Win McNamee/Getty Images

A suspect was arrested for allegedly "sending a suspicious letter" after law enforcement agents intercepted an envelope addressed to President Trump containing the poison ricin, the FBI confirmed in an emailed statement to Axios Sunday.

Details: The suspect, a woman, was arrested while trying to enter New York from Canada, law enforcement forces said.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 30,881,522 — Total deaths: 958,493— Total recoveries: 21,119,006Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 6,794,479 — Total deaths: 199,469 — Total recoveries: 2,590,671 — Total tests: 95,108,559Map.
  3. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right" Ex-FDA chief: Career scientists won't be "easily cowed" by political vaccine pressure.
  4. Education: What we overlooked in the switch to remote learning.
  5. Health: The dwindling chances of eliminating COVID-19 — 7 states set single-day coronavirus case records last week.
  6. World: England sets £10,000 fine for breaking self-isolation rules — The countries painting their pandemic recoveries green.

Trump campaign goes all in on Pennsylvania

Trump poster in Scranton, Pennsylvania. Photo: Robert Nickelsberg/Getty Images

The president's campaign is placing more importance on Pennsylvania amid growing concern that his chances of clinching Wisconsin are slipping, Trump campaign sources tell Axios.

Driving the news: Pennsylvania, which has 20 electoral votes, twice Wisconsin's number, actually has been trending higher in recent public and internal polling, a welcome development for the campaign.