Planet Fitness’s valuation has fallen by $400 million in five days after they banned a member who shared a photo of a “trans woman” in a female locker room.
The company’s value fell from $5.3 billion on March 14 to $4.9 billion on March 19, and its shares are down 13.59 percent from a month ago.
The drop follows Planet Fitness’ refusal to reverse its decision to ban a member who had a ‘trans woman’ shaved in a women’s locker room earlier this month.
Patricia Silva was banned from the gym in Alaska after describing an incident online in which she said she saw a transgender woman in her locker room.
Following opposition to the ban, the company said that while 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 rose only slightly on Wednesday.
Patricia Silva was banned from Planet Fitness after sharing a photo of ‘a man with a penis’ using the female locker room to shave
After her meeting, Silva took to Facebook to tell people about her experience and opened up about her fight with the transgender woman. Planet Fitness would then ban Silva and file charges against her.
Planet Fitness’ policy stated that “discomfort is not a reason to deny admission to the transgender member.”
The company’s shares fell 7.8 percent on Tuesday, from an opening price of $59.44 to a five-month low of $54.80 before recovering slightly.
Silva posted a video on Facebook in early March detailing her experiences at the gym.
She said she had just finished working out at Planet Fitness’ Fairbanks location when she saw the person, who she called “a man with a penis,” performing his routine in front of a 12-year-old girl.
Silva, who previously ran for Fairbanks Borough Assembly, told the “trans woman” that they should really use the men’s locker room. The trans woman responded that they were “LGB.”
Silva then took a photo of the person, shared it online and recounted her experience in a Facebook video.
“I just came from Planet Fitness. There’s a man shaving in the ladies’ room. I love him in Christ,” Silva began. ‘He is a spiritual being having a human experience. He doesn’t like his gender so he wants to be a woman, but I don’t like him shaving in my bathroom. I thought I’d just 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’s a MAN shaving…I looked at him, said ‘hey’…he looked up…and I said, ‘ You’re a man who shaves in the ladies’ room, and I’m not okay with that.’
‘He replied… ‘Well, I’m LGBT…’
“Whatever that is…I still told him, ‘You’re a MAN and you’re invading my space!’
‘He wanted to argue to justify why he could be there… I walked away…
‘I stepped out of the dressing room and asked loudly at the reception: ‘Did you know that there is a MAN shaving in the ladies’ room… I don’t agree with that ⁉️’ The two men standing at the desk raise their heads down, and their tails between their legs! As I walked out the door…behind me a woman shouts ‘it’s a girl’…I shouted back ‘it’s a man!’
“PF canceled my membership and allowed the pedo to stay ‼️,” she stated.
Planet Fitness revoked Silva’s membership and filed charges 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 response in a series of Facebook posts
Her actions were contrary to the gym’s commitment to “creating an inclusive and safe environment.”
Planet Fitness’ statement, shared by TikTok’s Libs, followed the same line. They doubled down on their decision.
In their statement, the gym said staff must “work with members and employees to address this inconvenience (sharing facilities with transgender members) and promote a climate of understanding consistent with Planet Fitness’ non-judgmental nature.”
The statement continued: “Planet Fitness staff will strive to address transgender members by names, titles, pronouns and other terms consistent with their self-reported gender identity, when reasonably known to Planet Fitness staff.”
The statement said that “a transgender woman will be referred to by her preferred name and feminine pronouns.”
And a “transgender man will be referred to by his preferred name and male pronouns.”
The statement concluded that the gym “reserves the right to immediately terminate any individual’s membership 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 Judgment 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 fitness facilities that best reflect their true, self-reported gender identity,” the report said.
“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 “judgment-free zone” to its members
Silva, from Alaska, is seen in Facebook photos with her husband and daughter
The gym has defended its inclusive policies without judgment and banned Silva from returning to the gym, resulting in her membership being canceled
Planet Fitness’ decision raised eyebrows and drew criticism and commentary 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 much more blunt in their assessment of Planet Fitness’ actions.
One person wrote on X.com, 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: “Planet Fitness deserves the bud light treatment.”
Someone claimed they had taken action, writing: I have canceled my membership. #BoycottPlanetFitness.”
Another user wrote: ‘”A transgender person is referred to by her preferred name and feminine pronouns.” This is known as forced speech and is unconstitutional. If we had a real DOJ, they would prosecute this attack on the First Amendment. #BoycottPlanetFitness.”