Screenshot / Facebook Patricia Silva ; Peter Hale CC BY 2.0 DEED, via Flickr, Cropped by Resist the Mainstream

Planet Fitness, the mega gym chain, faced a staggering $400 million decline in its valuation over the course of just five days.

This plummet was sparked by its controversial decision to ban a member who shared a photo of a transgender woman using a female locker room, The Daily Mail reports.

From March 14 to March 19, the company's market value plummeted from $5.3 billion to $4.9 billion, marking a substantial 13.59 percent decrease in its shares compared to the previous month.

This sharp decline came in the wake of Planet Fitness' firm stance on its ban of Patricia Silva, a member from Alaska, who raised concerns about encountering a transgender woman in the female locker room.

Silva's social media post detailing the incident ignited a firestorm of debate. Critics took to various platforms to express their discontent. “I've terminated my membership. #BoycottPlanetFitness,” wrote one user.

In a video clip dated March 11, Silva expressed discomfort with the presence of a transgender woman shaving in the women's bathroom, leading to her subsequent banishment from the gym.

“According to a woman at Planet Fitness, she entered the bathroom and found a man who identifies as a woman shaving,” tweeted Libs of TikTok on March 12th.

Despite facing backlash for its decision, Planet Fitness stood by its policy of inclusivity, emphasizing that discomfort alone should not justify denying access to transgender members. McCall Gosselin, the chief corporate affairs officer at Planet Fitness, reiterated the company's commitment to an inclusive environment, citing its gender identity non-discrimination policy.

The controversy surrounding Planet Fitness' actions attracted criticism from various quarters, however, including Utah Congressman Phil Lyman and entrepreneur Elon Musk, who weighed in on social media.

Lyman asserted, “Transgender 'rights' take precedence over women's rights.”

In a wry response, Musk punctuated one of Silva's videos with an exclamation point.

Other users were more straightforward in their critiques of Planet Fitness' decisions. “Planet Fitness is unsafe for women. Cancel your membership and opt for free weights. It's more economical and requires less travel time,” wrote one user.

“Treat Planet Fitness like Bud Light; cancel your membership and make sure they understand why,” suggested another.

Echoing a similar sentiment, another person concurred, stating, “Planet Fitness deserves the Bud Light treatment.”

In similar fashion to Planet Fitness, Bud Light's parent company, AB InBev, and Pepsi Co., the owner of Doritos, also experienced stock declines after their respective partnerships with transgender influencers stirred controversy. While both of those companies managed to recover from the backlash after severing ties with the influencers, their sales figures continue to suffer.