Planet Fitness saw the valuation of the company’s stock drop this week after an Alaska gym canceled a woman’s membership when she photographed a male using the women’s locker room.
The company’s stock price, which traded at a monthly high of $66.92 on March 7, plummeted to a low of $56.46 on Tuesday.
The price drop followed an incident in which Patricia Silva encountered a “man in women’s locker room shaving.”
She also claimed in a video posted to Facebook that there was “a little girl sitting in the corner. She could have been [12 years old] … in a towel kind of freaked out.”
“I was offended, I took a picture of him,” she said in the clip.
Silva added that the man had been shaving his face and told her he was “queer.”
After she relayed her complaints to management, Silva said, her membership was revoked for violating the rules against photographing other gym users.
The gym’s policy allows members to use the locker room that corresponds with their gender identity.
“Our gender identity non-discrimination policy states that members and guests may use the facilities that best align with the sincere, self-reported gender identity,” the gym said in a statement.
However, the policy is not a blanket invitation for people to enter the locker room of their choosing by asserting a gender that is not their own.
“If it is confirmed that a member is acting in bad faith and improperly asserts a gender identity, they may be asked to leave and their membership may be terminated,” the company said.
In 2015, Michigan woman Yvette Cormier sued Planet Fitness after she claimed her membership was wrongly terminated after she complained about a transgender woman.
A Michigan judge eventually ruled against Cormier.