Planet Fitness has experienced a significant decrease in market value, dropping by $400 million, following a controversial incident involving a woman’s expulsion for raising concerns about a biological man shaving in the women’s locker room. This decline has been dubbed by some as the “Go Woke, Go Broke” treatment.
The company’s stock saw a 7.8 percent decrease on Tuesday, starting at an opening price of $59.44 and hitting a low of $54.80 before slightly rebounding. The incident, initially reported by Libs of TikTok, gained attention when Patricia Silva, the woman at the center of the dispute, was barred from being a member of the gym.
Silva recounted witnessing a biological man shaving in the women’s locker room, where she observed a young girl, approximately 12 years old, visibly uncomfortable with the situation. Silva confronted the individual and expressed her discomfort, prompting a response identifying as LGBTQ. This interaction led to Silva’s vocal opposition, stating, “you’re a MAN and you’re invading my space!”
In response to the controversy, Planet Fitness emphasized its commitment to inclusivity, citing its branding as a “Judgment Free Zone.” The company clarified that Silva’s membership termination stemmed from violating the gym’s policy on mobile device usage, which prohibits taking photos of individuals in locker rooms. The company also highlighted its stance on transgender inclusion, affirming that discomfort with transgender members using facilities segregated by sex does not warrant denial of access.
Despite Planet Fitness’ efforts to address the situation, criticism has arisen regarding its policies and handling of the incident. Some have raised concerns over prioritizing inclusivity over what they perceive as common sense, accusing the company of endorsing mental illness.
As the fallout from this controversy continues, Planet Fitness faces scrutiny over its policies and approach to ensuring a welcoming environment for all members.
