Planet Fitness’ stock fell after an Alaska location canceled a woman’s membership after she photographed a male using the women’s locker room.
The company’s stock price was at $66.92 on March 7, but fell to $56.46 on Tuesday.
According to Daily Mail, the gym’s value dropped $400 million.
A woman recorded herself at the location speaking about the incident when she said a person identifying as “queer” was shaving in the female locker room.
The gym said they terminated the woman’s membership because she violated its policy regarding taking photos and/or videos in the locker room.
Planet Fitness said in a statement that they honor an individual’s gender identity.
“As the home of the Judgement Free Zone, Planet Fitness is committed to creating an inclusive environment,” Planet Fitness chief corporate affairs officer McCall Gosselin said in a statement.
“Our gender identity non-discrimination policy, states that members and guests may use the gym facilities that best align with their sincere, self-reported gender identity. 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.”
