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HomeUncategorizedPlanet Fitness Loses 400 Million After Canceling Member Over LGBT Incident

Planet Fitness Loses 400 Million After Canceling Member Over LGBT Incident

Planet Fitness lost $400 million in market capitalization after mishandling an LGBT incident that took place at one of their gyms in Alaska. Patricia Silva was in the women’s locker room at a Fairbanks location when she spotted a biological male shaving his beard. She said the man was leaning over the sink with a face full of shaving cream and a razor. The man told her that he identifies as LGBTQ and he has a right to be in the women’s locker room.

Silva took a picture of the man and posted it to social media. This went viral, and so did her subsequent comments about why she posted it and how the incident made her feel. The next day, she was awakened by a phone call from Planet Fitness alerting her that her membership had been revoked and that she was banned from all locations in the area. Silva informed the internet of this news, and shortly after that, Planet Fitness witnessed its market cap drop by 6.6% in just one week.

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