Planet Fitness’ value dropped $400 million in five days after news that an Alaska gym banned a member for sharing a photo of a trans individual using the women’s locker room.

The company’s stock price, which traded at a monthly high of $66.92 on March 7, plummeted to a low of $56.91 on Wednesday morning.

The stock’s decline followed Planet Fitness’ refusal to overturn its decision to ban Patricia Silva, who said her membership was revoked for violating the rules against photographing other gym users.

Silva photographed a male using the women’s locker room. She said that the man had been shaving his face and told her he was “queer.”

Silva, in a video posted to Facebook, said there was “a little girl sitting in the corner. She could have been [12 years old] … in a towel kind of freaked out.”

Newsmax reached out to Planet Fitness for comment on Silva’s situation and the company’s policy regarding trans club members.

DailyMail.com reported that Planet Fitness, after backlash against Silva’s ban, said that although some members may feel uncomfortable sharing facilities, “this discomfort is not a reason to deny access to the transgender member.”

Planet Fitness’ policy allows members to use the locker room that corresponds with their gender identity.

Jakorbie Dixon, 25, was arrested in September 2023 after an incident in which a 15-year-old girl was inside the women’s locker room of Planet Fitness in Monroe, Georgia, and said a naked biological male had exposed himself to her, according to the Monroe Police Department.

The girl’s aunt told Monroe Local News that gym management said Dixon had the right to be in the women’s locker room.

Newsweek reported that the topic “boycott Planet Fitness” was trending on X for hours on Sunday.

“BREAKING: I just received this image from Planet Fitness in Alaska. The man who was caught shaving in the womens’ bathroom is still entering womens’ private spaces,” Libs of TikTok posted on X with Silva’s photo.

“Planet Fitness stood by him. Their policies allow men to use womens’ locker rooms and if you complain you might have your membership revoked. Planet Fitness is not safe for women!! @PlanetFitness”

“@PlanetFitness letting dudes into women’s locker room. Who’s gonna cancel their membership? #Boycott,” Richard Cardona posted on X on Wednesday.

X owner Elon Musk commented when he reshared a story about the Monroe incident.

“Doesn’t sound safe for women,” Musk wrote about Planet Fitness.

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