The ongoing debate surrounding Planet Fitness has garnered significant attention recently. The fitness chain is facing criticism after a viral video emerged featuring a disgruntled member. The controversy centers around the inclusion of transgender individuals in the locker rooms designated for cisgender women.
A photograph shared by a woman in Alaska showed a trans woman shaving at the Fairbank’s location. This sparked outrage amongst individuals who believe that these spaces should be exclusively reserved for cisgender women. The video and subsequent debate quickly spread across social media platforms.
In response to the incident, Planet Fitness revoked the membership of the woman who took the photograph, while the transgender individual in question was allowed to continue using the locker room as per the company’s policy. Planet Fitness reiterated that their policy allows individuals to use the locker room corresponding to their gender identity, but stressed that bad faith actions could result in membership cancellation.
Since then, more pictures of the photographed trans woman using the gym’s locker room have surfaced, leading some conservatives to call for a nationwide boycott of Planet Fitness memberships.
As a consequence of the controversy, Planet Fitness’s stock price has experienced a significant decline. In just 12 days, the market value fell from $66 to approximately $56. This drop resulted in a $400 million decrease in the company’s market cap, shrinking from $5.3 billion to about $4.9 billion in just five days.
The impact of the controversy has resonated strongly within the stock market, demonstrating the significance of the ongoing transgender debate.
