In just five days, the value of Planet Fitness has dropped by $400 million as a result of the expulsion of a member who posted a picture of herself using a female locker area.
The company’s shares are down 13.59 percent from a month ago, and its worth decreased from $5.3 billion on March 14 to $4.9 billion on March 19.
The drop comes after Planet Fitness refused to reverse its earlier decision to prohibit a member for disclosing to others that she saw a “trans woman” shaving in a women’s locker area.
Following her online account of an incident in which she claimed to have seen a transgender lady in her locker area, Patricia Silva was banned from the gym in Alaska.
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