Planet Fitness sees $400MILLION wiped off its value in just five days after ... trends now
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 refusing 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 after she detailed an incident at her Alaska gym 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 Planet Fitness’ 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.
It followed an account from Silva of her experience 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,' 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'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
