Planet Fitness drops $400 MILLION in value after Libs of TikTok reveals gym allows men in women's locker rooms, banned woman who complained

Planet Fitness, after banning a woman for exposing a biological man shaving in the women's locker room, has dropped $400 million in market value. Many are now calling the market drop the "Bud Light Treatment." 

According to the Daily Mail, the company's stock fell by 7.8 percent on Tuesday, going from an opening price of $59.44 to a low of $54.80. It has rebounded slightly since then.  

Libs of TikTok reported on the incident of the woman, Patricia Silva, being barred from being a member of the gym.  

On Monday, Silva snapped a photo of the biological man shaving in the ladies' room and said that there was a girl around the age of 12 present as well "sitting in the corner" who was "in a towel, kind of freaked out that there's a man shaving in her locker room." 

In a Facebook post, Silva wrote that she had confronted the biological male in the locker room, saying that she was "not OK with that."

The biological male responded that he was LGBTQ, to which Silva said she responded, "you’re a MAN and you’re invading my space!"

The company is known for being the subject of jokes about its branding as a "Judgment Free Zone" in the gym and lifting world and for its lack of barbell free weights, "lunk" alarm, as well as Mondays with free pizza. It stated in response to the controversy, "As the home of the Judgement Free Zone, Planet Fitness is committed to creating an inclusive environment." 

"The member who posted on social media violated our mobile device policy that prohibits taking photos of individuals in the locker room, which resulted in their membership being terminated." 

The manual for Planet Fitness also includes instructions saying, "Some members may feel uncomfortable with a transgender member using the same locker room facilities, bathrooms, showers, or other facilities/programs separated by sex."  

Planet Fitness' policy rules, "This discomfort is not a reason to deny access to the transgender member." 

Many on X have posted in outrage about the incident, leading to #BoycottPlanetFitness trending on the platform.  

Many users have referred to the boycott as the “Bud Light treatment” of the brand as many have already canceled their memberships.