this post was submitted on 31 Mar 2024
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Planet Fitness value plummets $400M after transgender turmoil (www.foxbusiness.com)
submitted 1 year ago by Lovstuhagen@hilariouschaos.com to c/news@hilariouschaos.com
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Planet Fitness critics are saying "go woke, go broke," calling on the top fitness chain to receive the "Bud Light" treatment after an uproar over its transgender locker room policy created a social media stir.

The chain saw a $400 million dive in valuation from $5.3 billion to $4.9 billion just days after revoking an Alaska woman's membership for snapping photos of a transgender woman, who was biologically male, shaving in the women's locker room, according to a Daily Mail report.

...

Silva claimed a 12-year-old girl who was in the locker room was also uncomfortable with the biological male's presence.

Planet Fitness confirmed Silva's membership was canceled after taking photos and/or videos in the locker room –—a policy violation.

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[–] daikiki@lemmy.world 1 points 1 year ago

Took the stock 3 days to recover from that dip and it's now higher than it was before this story broke. Correlation is not causation.