Planet Fitness Faces Backlash and Stock Tumble Over Transgender Policy and Member Ban

The fitness chain's decision to ban a member for photographing a transgender individual in a locker room has sparked widespread controversy and a significant drop in stock value.

Planet Fitness revoked the membership of Patricia Silva after she allegedly photographed a transgender woman in the women's locker room, sparking a social media campaign to boycott the chain.
The incident led to a $400 million drop in Planet Fitness's market value within five days, amidst growing calls for a boycott over the company's handling of transgender issues.
Elon Musk and other public figures have weighed in on the controversy, criticizing the gym chain's policies regarding gender identity and locker room access.
A separate incident in Monroe, Georgia, involving a man allegedly exposing himself to a 15-year-old in a women's locker room at Planet Fitness has added to the criticism.
Planet Fitness maintains a policy that allows members to use locker room facilities that correspond with their self-reported gender identity, amidst a broader national debate over transgender rights.