Planet Fitness stock price plummets over transgender controversy

Planet Fitness stock price plummets over transgender controversy (Page 1 ) | May 31, 2024

Things seem to be heating up in a debate, and the topic of conversation this time around is Planet Fitness. It seems that the chain of fitness studios is underfire after a video went viral of a disgruntled member…

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A woman in Alaska posted a photo of a trans woman in the women’s locker room at the Fairbank’s location. She accused the company of allowing ‘men’ into a space that seems deemed should only be exclusive to cisgender women.

The original picture seemed to show a transgender woman as she was shaving over a sink in a locker room. The woman who took the picture ranted and raved in a video afterward about how upset she was. The video ended up going viral and sparking a massive debate.

What happened, as a result, was that the local Planet Fitness revoked her membership, while the transgender person who had been photographed by her was left alone. Planet Fitness also doubled down on its decision, saying that its policy allows people with certain gender identities to use whichever locked room they see fit.

With that being said, they said people cannot act in bad faith, or their memberships could be canceled.

However, now it seems there are more pictures of the trans woman who had been originally photographed going around as she uses the gym’s locker room. People on the more conservative side of politics have called on others to cancel their Planet Fitness memberships nationwide.

It seems this has had a big effect, as Planet Fitness’s stock price has taken a big hit. The market value has also plummeted, with stocks going from $66 to about $56 over the course of just 12 days.

The company’s market cap has also fallen around $400 million. The group has gone from $5.3 billion to about $4.9 billion in the course of just five days!