Planet Fitness value plummets $400M after transgender turmoil
Patricia Silva's membership was revoked after snapping a photo of a biological male in the women's locker room
FOX Business' Cheryl Casone reports on Planet Fitness' significant value loss since banning a woman for complaining about a biological male shaving in the women's locker room.
Planet Fitness critics are saying "go woke, go broke," calling on the top fitness chain to receive the "Bud Light" treatment after an uproar over its transgender locker room policy created a social media stir.
The chain saw a $400 million dive in valuation from $5.3 billion to $4.9 billion just days after revoking an Alaska woman's membership for snapping photos of a transgender woman, who was biologically male, shaving in the women's locker room, according to a Daily Mail report.
Patricia Silva's issue was first reported by the conservative X account Libs of TikTok, which has since continuously urged gym goers to boycott the chain and blasted the company for creating unsafe spaces for women. On Tuesday, the account shared an update regarding the valuation drop.
A Planet Fitness health center. (Don and Melinda Crawford/UCG/Universal Images Group via Getty Images / Getty Images)
"Whoa. Planet Fitness saw $400 Million wiped off its value since we broke the story of them allowing men in female lockers rooms and then banning the woman who exposed it. Turns out people don’t want to support companies who cave to gender pseudoscience and allow men in womens’ private spaces! #BoycottPlanetFitness Do not let up! Keep it going!" the post read.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PLNT | PLANET FITNESS INC. | 97.03 | +1.76 | +1.85% |
Silva claimed a 12-year-old girl who was in the locker room was also uncomfortable with the biological male's presence.
Planet Fitness confirmed Silva's membership was canceled after taking photos and/or videos in the locker room –—a policy violation.
Libs of TikTok posted about the value loss of Planet Fitness days after bringing the incident to the X platform. (Libs of TikTok/FOX Business)
In an earlier statement to Fox News Digital, Planet Fitness chief corporate affairs officer McCall Gosselin clarified company policy on gender identity.
"As the home of the Judgement Free Zone, Planet Fitness is committed to creating an inclusive environment," he said in the statement.
"Our gender identity non-discrimination policy, states that members and guests may use the gym facilities that best align with their sincere, self-reported gender identity. The member who posted on social media violated our mobile device policy that prohibits taking photos of individuals in the locker room, which resulted in their membership being terminated."
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Planet Fitness touts itself as a "Judgment Free Zone" and reiterated that title as it addressed controversy over revoking a woman's membership at a Fairbanks, Alaska, location. (PATRICK T. FALLON/AFP via Getty Images / Getty Images)
The chain took additional heat from conservatives on X in the days since the incident created a firestorm.
Even Elon Musk weighed in, replying to a post from Libs of TikTok that accused the chain of not caring about women's safety by remarking, "Planet Fitness sounds like a creepy place."
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Fox News' Ryan Morik contributed to this report.