Gym Controversy Sparks Stock Plunge for Planet Fitness

Planet Fitness faces a challenging period as its stock plunges by approximately 15% within two weeks following a controversy at an Alaska location.

A woman’s membership was revoked after she complained about a transgender individual using the women’s restroom. Patricia Silva’s Facebook post ignited criticism, resulting in the company’s stock dropping from $66.92 to $56.46.

Despite a slight recovery to nearly $58, Planet Fitness suffered a market cap loss of around $400 million. The incident highlights ongoing debates about gender identity and privacy in public spaces, prompting cancellations and social media backlash against the gym chain.