Planet Fitness’ valuation has plummeted $400 million in five days after they banned a member who shared a photo of a ‘trans woman’ using a female locker room.
The company’s value dropped from $5.3 billion on March 14 to $4.9 billion on March 19, and its shares are down by 13.59 percent compared to a month ago.
The decline follows Planet Fitness’ refusal to walk back its decision to ban a member who exposed a ‘trans woman‘ shaving in a female locker room earlier this month.
Patricia Silva was barred from the gym in Alaska after she detailed an incident online – where she said she saw a transgender woman in her locker room.
Following backlash against the ban, the company said although some members may feel uncomfortable sharing facilities, ‘this discomfort is not a reason to deny access to the transgender member.’
The company’s valuation plummeted from $5.3 billion on March 14 to $4.9 billion on Tuesday and only rallied slightly on Wednesday
Patricia Silva was banned from Planet Fitness after she shared a photo of ‘a man with a penis’ who was using the female locker room to shave
After her encounter, Silva took to Facebook to tell people about her experience and recounted her argument with the transgender individual- Planet Fitness would go on to ban Silva and file a police report against her
Planet Fitness’ policy stated that ‘discomfort is not a reason to deny access to the transgender member.’
The company’s stock fell by 7.8 percent on Tuesday, going from its opening price of $59.44 to a five-month low of $54.80, it then rebounded slightly.
Silva posted a video describing her experience at the gym on Facebook in early March.
She said she had just finished working out at Planet Fitness’ Fairbanks location, when she saw the person, whom she called ‘a man with a penis,’ carrying out his routine in front of a 12-year-old girl.
Silva, who has previously run for Fairbanks Borough Assembly, told the ‘trans woman’ they should really be using the male locker room. The trans woman replied that they were ‘LGB.’
Silva then took a picture of the person and shared it online and recounted her experience in a Facebook video: ‘I just came out of Planet Fitness.
‘There is a man shaving in the women’s bathroom. I love him in Christ. He is a spiritual being having a human experience.
‘He doesn’t like his gender so he wants to be a woman, but I’m not comfortable with him shaving in my bathroom. I just thought I’d say it out loud.’
Silva – who has shared QAnon conspiracy theories on social media – also described the encounter in a written post online.
‘I went to planet fitness… Walked in the bathroom, and there stands a MAN shaving… I looked at him, said ‘hey’ … he looked up… and I said, ‘You are a man shaving in the women’s bathroom, and I am not OK with that.’
‘He replied… ‘Well, I’m LGB…’
‘Whatever that is… nevertheless, I told him ‘You’re a MAN and you’re invading my space!’
‘He wanted to argue to justify why he can be there… I walked away…
‘I stepped out of the locker room and loudly asked the front desk, ‘Are you aware that there is a MAN shaving in the women’s bathroom… I’m not OK with that ⁉️’ The two men standing at the desk, put their heads down, and their tails between their legs! As I was walking out the door…at my back, a woman shouts ‘it’s a girl’… I shouted back ‘it’s a man!”
‘PF cancelled my membership and allowed the pedo to stay ‼️,’ she stated.
Planet Fitness revoked Silva’s membership and filed a police report against her, citing her violation of gym policy by taking photos and/or videos in the locker room.
Former Planet Fitness gym goer Patricia Silva has defended her reaction in a series of Facebook postings
Her actions clashed with the gym’s commitment to ‘creating an inclusive and safe environment.’
Planet Fitness’ statement shared by Libs of TikTok followed the same line. They doubled down on their decision.
In their statement, the gym said that the staff should ‘work with members and employees to address this discomfort [sharing facilities with transgender members] and to foster a climate of understanding consistent with the Judgment Free character of Planet Fitness.’
The statement continued: ‘Planet Fitness staff shall strive to address transgender members with names, titles, pronouns, and other terms consistent with their self-reported gender identity, if reasonably known to the Planet Fitness staff.’
The statement said that ‘a transgender woman shall be referred to by her preferred name and female pronouns.’
And a ‘transgender man shall be referred to by his preferred name and male pronouns.’
It concluded that the gym ‘reserves the right to terminate a person’s membership immediately for any violation of this policy.’
When DailyMail.com contacted Planet Fitness about their policy, they reiterated their statement issued after Silva went viral.
‘As the home of the Judgement Free Zone, Planet Fitness is committed to creating an inclusive environment. 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,’ it read.
‘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.’
Planet Fitness in Fairbanks, Alaska touts its ‘judgement free zone’ to its members
Silva of Alaska is seen in Facebook photos with her husband and daughter
The gym has defended its ‘judgement free’ inclusive policy and has banned Silva from returning to the gym, cancelling her membership
Planet Fitness decision raised eyebrows and drew criticism and comment from Utah Congressman Phil Lyman and Tesla’s Elon Musk.
Lyman wrote: ‘transgender ‘rights’ supersede women’s rights.’
Musk wryly responded to one of Silva’s videos with an exclamation point.
Other users were far more blunt in their assessments of Planet Fitness’ actions.
One person wrote on X, formerly known as Twitter: ‘Planet fitness is not safe for women. Cancel your membership and get some free weights. Cheaper and less travel time.’
Another user said: ‘Give Planet Fitness the Bud Light treatment, cancel your membership, and let them know why.’
Another person echoed this sentiment: ‘Well Planet Fitness deserves the bud light treatment.’
Someone claimed that they had taken action, writing: I’ve cancelled my membership. #BoycottPlanetFitness.’
Another user penned: ‘”A transgender shall be referred to by her preferred name and female pronouns.” This is what’s known as forced speech and it’s unconstitutional. If we had a real DOJ, they’d prosecute this assault on the First Amendment. #BoycottPlanetFitness.’
