The decision by Planet Fitness to stand by its ban of a member over a transgender incident has cost millions in the company’s value.
It took just five days after the ban for Planet Fitness to see $400 million in value loss after a decision earlier this month to ban a woman who had posted her complaint after she found a ‘”trans woman” shaving in a female locker room in a Fairbanks, Alaska location.
Planet Fitness is learning a lesson now in caving to the woke mob and putting mentally ill mens’ delusions before protecting women. Don’t let up the pressure! pic.twitter.com/N02ygRcS9W
— Libs of TikTok (@libsoftiktok) March 19, 2024
Patricia Silva had complained to the owners at the location where she was a member and Planet Fitness decided to terminate her membership and ban her from the facility, citing a “no judgment policy” allowing the use of locker rooms based on one’s “sincere, self-reported gender identity.” A police report was reportedly filed against her as well for taking the photo in the locker room.
UPDATE: The woman who exposed a man shaving in an Alaska Planet Fitness women’s locker room with a 12-year-old present just had her membership revoked.
Why is @PlanetFitness prioritizing a man with a p*nis using a woman’s private space over women’s and girls’ safety? https://t.co/2WLOzdpf3J pic.twitter.com/XVg6h8pGlA
— Libs of TikTok (@libsoftiktok) March 14, 2024
Not only did Planet Fitness receive immediate backlash after the story circulated, it seems the calls for boycotts have now hit where it hurts.
“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,” Daily Mail reported.
“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,” the outlet added.
BLOODBATH AT PLANET FITNESS#BoycottPlanetFitness https://t.co/21rsNemq20
— Libs of TikTok (@libsoftiktok) March 21, 2024
According to Yahoo!Finance:
The issue has been going on since at least 2015 when Planet Fitness revoked the membership of Yvette Cormier after she voiced concerns upon encountering a biological man identifying as a transgender woman at a Michigan location. This resulted in a lawsuit against Planet Fitness. Cormier’s complaint ultimately succeeded with the Appeals Court for the State of Michigan finding that Planet Fitness violated the Consumer Protection Act and its contract with Cormier because her membership promised access to a private women’s locker room, which was not provided.
Social media users continue to call for a boycott and, from the plummeting stock prices, it seems it may be working.
Yes
— Libs of TikTok (@libsoftiktok) March 17, 2024
While @PlanetFitness may think it’s cool to allow pervs in the ladies locker, legally they have a fiduciary responsibility to their stockholders, which they aren’t upholding by implementing such reckless social policies.
— QueenEmyB (@QueenEmyB1) March 21, 2024
They could have added a lot of “trans only” bathrooms for a lot less. Ha ha
— GibStra (@GibStra) March 21, 2024
$400 Million+ has been wiped off the value of Planet Fitness since @libsoftiktok broke the story.
I encourage all of you to cancel your memberships and not support a gym that does not support you.
— Ryan Fournier (@RyanAFournier) March 21, 2024
