Planet Fitness is facing national controversy after a woman in Alaska posted a photo of a transgender woman using the women’s locker room at a Fairbanks location. The photo showed the trans woman shaving at a sink, and the woman who took the image posted a viral video criticizing the gym for allowing “men” into female-only spaces.

In response, Planet Fitness revoked the woman’s membership for violating their photo policy and reaffirmed its stance: members are allowed to use locker rooms that align with their gender identity. The gym emphasized that bad-faith behavior could still result in account termination.

The incident has sparked political debate and led to calls from some conservative voices to boycott the fitness chain. The controversy appears to have impacted the company’s finances—Planet Fitness’s stock dropped from $66 to $56 in under two weeks, wiping out roughly $400 million from its market value.

Despite the backlash, the company is standing by its inclusive policy.