As virus data grab the headlines, investors shouldn’t overlook the opportunity around the next corner. The “reopening trade” is simmering and potentially ready to boil over as multiple vaccine candidates move toward emergency use authorization.

In the past three weeks, we have seen COVID-19 vaccine candidates from Pfizer/BioNtech, Moderna, and Oxford/AstraZeneca all report strong data and promising safety/efficacy profiles, which shapes the market’s view and discounting mechanism powerfully.

It’s important for investors to remember that asset prices “skate” to where the puck is going to be, rather than where the puck is. This may be on display right now like never before, as companies with fitness and live sports models brace for the worst stretch of the pandemic this winter despite the potential for a vaccine solution on the horizon.

With that in mind, we take a look here at some of the most interesting names in the space, including: Under Armour Inc (NYSE:UA), Splash Beverage Group Inc (OTCMKTS:SBEV), and Planet Fitness Inc (NYSE:PLNT).

Under Armour Inc (NYSE:UA) develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America.

The company offers its apparel in compression, fitted, and loose types to be worn in hot and cold. It also provides various footwear products for running, basketball, cleated sports, training, and outdoor. In addition, the company offers accessories, which include gloves, bags, and headwear; and digital fitness subscriptions, as well as digital advertising through MapMyFitness, MyFitnessPal, and Endomondo platforms.

Under Armour Inc (NYSE:UA) most recently announced that it has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners. “As part of our ongoing transformation, we are committed to actively managing our business to ensure that our strategies and assets are prioritized to connect even more deeply with our target consumer – the Focused Performer,” said Under Armour President and CEO Patrik Frisk. “This announcement reduces the complexity of our consumer’s brand journey by empowering sharper alignment with our long-term digital strategy as we work towards a singular, cohesive UA ecosystem. Additionally, it affords us investment flexibility to drive greater return and value to our shareholders over the long-run.”

“MyFitnessPal supports over 200 million users in their ongoing health and fitness journeys and we are excited to partner with the business for its next stage as a standalone company to continue a strong history of recurring revenue growth, organic user acquisition and a unique consumer proposition,” said Christine Wang, Principal at Francisco Partners.

The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 5% in that timeframe. Shares of the stock have powered higher over the past month, rallying roughly 19% in that time on strong overall action.

Under Armour Inc (NYSE:UA) generated sales of $1.4B, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 102.9% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($874.5M against $1.4B, respectively).

Splash Beverage Group Inc (OTCMKTS:SBEV) specializes in manufacturing, distribution, sales & marketing of various beverages across multiple channels, including TapouT sports drinks, an international lifestyle brand that has been at the forefront of Mixed Martial Arts since 1997.

MMA is the fastest growing sport in the US over the past 10 years, and there’s no reason to believe that won’t be the case over the next ten years. The TapouT brand is big in MMA circles and stands to benefit from a return to full action and major MMA events over coming months. This is a more speculative stock in this basket, clearly, but it also may have the biggest upside potential over time given its early-stage profile and discounted share price. We include it here because of the company’s recent major news catalysts.

Splash Beverage Group Inc (OTCMKTS:SBEV) most recently announced that it has moved up to the OTC Markets’ OTCQB tier, having met Eligibility, Reporting, Corporate Governance and Verification Requirements. This is a big accomplishment.

According to the company’s release, the OTCQB is a venture market operated by the OTC Markets Group, Inc. and is designed for developing companies in the U.S. and abroad. To be eligible for quotation on the OTCQB, companies must be current in their reporting and undergo an annual verification and management certification process. Companies must also meet a minimum bid price test and other financial conditions. The OTCQB is recognized by the Securities and Exchange Commission as an established public market and provides current public information to investors that need to analyze, value, and trade securities.

Splash CEO Robert Nistico comments, “This was a top priority for our company. The OTCQB offers investors increased transparency and overall accessibility and is conducive to additional market opportunities toward building shareholder value. We believe this also positions us to begin initiatives toward up-listing to a senior exchange as we continue to cultivate existing brands and execute our strategy to acquire additional impactful beverage brands and concepts.”

Splash Beverage Group Inc (OTCMKTS:SBEV) recently announced consolidated revenues for the three months ended September 30, which totaled $1,009,615, representing quarter-over-quarter growth of 65% compared to the three months ended June 30. This also represents sales for the nine months ended September 30 of $1,733,926. In addition, the company surpassed its estimated topline performance during Q3. Management forecasts $1.3-1.5 million in current quarter revenues for the three months ending December 31, 2020.

Planet Fitness Inc (NYSE:PLNT) operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.

The Corporate-Owned Stores segment operates corporate-owned stores in the United States and Canada. The Equipment segment engages in the sale of fitness equipment to franchisee-owned stores in the United States.

Planet Fitness Inc (NYSE:PLNT) recently reported financial results for its third quarter ended September 30, 2020, including a total revenue decrease from the prior year period by 36.8% to $105.4 million and system wide same store sales down 5.6%.

“Today over 95% of our locations are open, with our team members working hard to deliver a safe and healthy in-store environment for our members,” said Chris Rondeau, Chief Executive Officer.

“While our membership levels have been under some pressure, primarily, we believe, from pent up cancellations in reopened clubs following the resumption of billing, we saw positive momentum in membership joins and usage rates as a result of kick starting our national marketing efforts in September. The results were very encouraging and therefore we are increasing our level of national marketing spend for the remainder of the year. We are also continuing to build out the features and functionality of our Planet Fitness app, further accelerating our digital efforts and improving the outstanding value proposition we offer. In the near-term we do expect the operating environment to remain volatile as a result of the virus, and we are proceeding appropriately with the safety of our members and staff as our number one priority. Longer-term, we continue to be very confident in Planet Fitness’s growth prospects as the business is well-positioned to capitalize on the increased focus on health & wellness and industry consolidation that we believe will emerge over the next several years.”

The stock has suffered a bit of late, with shares of PLNT taking a hit in recent action, down about -3% over the past week. Shares of the stock have powered higher over the past month, rallying roughly 6% in that time on strong overall action. Planet Fitness Inc (NYSE:PLNT) generated sales of $105.4M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 161.9% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($501.6M against $120.4M).