With special purpose acquisition companies controlling more than $1 trillion in purchasing power, any fast-growing company would be crazy not to evaluate going public right now. Against that backdrop, it was reported last week that Equinox is in talks with multiple SPACs. If the fitness company hits public markets, could it be a market-beating investment? Image Source: Getty Images Equinox vs. the Competition It's no surprise investors would be interested in fast-growing health companies. After IPOing for $29 per share in September, 2019, Peloton (NASDAQ: PTON) has soared during the pandemic. Today, its shares trade for north of $110. Equinox raised money from Silver Lake Partners in February 2020 with the intent of expanding its digital offerings and perhaps even challenging the company with in-home fitness products. (Its subsidiary SoulCycle recently launched its At-Home bike that competes directly with Peloton.) However, the core of Equinox's business is its gym and workout club business. Gyms obviously fell out of favor during the pandemic as restrictions forced many to either close or face steep customer losses. Planet Fitness (NYSE: PLNT), which traded for $87.52 on February 21st of last year, saw its share price plummet to $33.93 within a month. With the United States vaccinating more than 3 million people per day and many states lifting restrictions, the share prices of gyms are once again rallying. Planet Fitness now sits within 13% of its all-time high share price. To IPO or Not to IPO Given this environment, you can see why it's wise for Equinox to explore joining the public markets. 2021 has seen a surge of IPOs, SPAC mergers, and even direct listings as investors have scooped up high-growth companies. While interest in many recent public debuts has waned, Equinox's positioning as a "reopening stock" should lead to higher interest than rival offersings in industries like electric vehicles or SaaS software that have become saturated with public debuts. Reports are that Equinox could command a $9 billion valuation with any acquiring blank-check company. That would make it more highly valued than Planet Fitness ($6.8 billion), but significantly lower than Peloton's $33.4 billion market cap. 10 stocks we like better than Peloton InteractiveWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Peloton Interactive wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Eric Bleeker owns shares of Peloton Interactive. The Motley Fool owns shares of and recommends Peloton Interactive and Planet Fitness. The Motley Fool has a disclosure policy.Source