Planet Fitness Stock Price Dragged In The Mud Over Transgender Controversy
This discussion seems to be getting hotter and hotter, and this time the subject is Planet Fitness. The chain of fitness centers appears to be under fire after a member’s irate video went viral.
An image showing a transgender woman in the Fairbanks location’s women’s locker room was shared by an Alaskan woman. She charged that the business was letting “men” into an area that appeared to be reserved for cisgender women alone
The original photo appeared to depict a transgender person shaving over a sink in a changing area. In a video posted online later, the photographer let out all of her frustrations. After going viral, the video sparked a heated discussion.
The transgender person she had taken pictures of was left alone, and as a result, the nearby Planet Fitness cancelled her membership. Additionally, Planet Fitness reaffirmed their choice, stating that those who identify as a particular gender are free to use whichever closed room they choose
Having said that, they threatened to terminate memberships for anybody who behaved badly.
But it appears that more photos of the trans woman who was first captured on camera are now making the rounds while she makes use of the gym’s locker area. Conservative politicians have urged others to discontinue their Planet Fitness memberships around the country.
The significant decline in Planet Fitness’s stock price suggests that this has had a significant impact. In just 12 days, equities went from $66 to roughly $56, indicating a sharp decline in market value.
The market value of the business has also decreased by almost $400 million. In just five days, the group’s value increased from $5.3 billion to approximately $4.9 billion!
