When are American companies going to wake up and realize that their obligation is to their shareholders, and there is no shame in that? Stay out of politics and don't drive loyal customers away to look cool to the social media woke mob!
Bud Light Loses Billions in Value as Backlash from Trans Partnership Continues
As the controversy surrounding Bud Light’s partnership with transgender activist Dylan Mulvaney heats up, the brand’s parent company has suffered a concurrent loss of more than $5 billion in market value.
Yes, that’s a billion with a “B.”
The backlash against Anheuser-Busch began on April 1 when Mulvaney, a transgender social media “influencer,” posted a video letting fans know that Bud Light had sent him a can of beer with his face on it and that he was partnering with the brand for an ad campaign.
“Since March 31, shares of Bud Light’s parent company have fallen by nearly 4% — knocking down the company’s market capitalization from $132.38 billion to $127.13 billion,” the New York Post reported on Wednesday.
This was a big turnaround for the company, as Anheuser-Busch had enjoyed a six-month stock market rise that culminated in a value of $134 billion on March 31, according to Newsweek.
It also didn’t help that Anheuser-Busch exec Alissa Heinerscheid hinted that the brand needed to move beyond its current customer base and begin appealing to a more woke clientele.
It might be too early to pinpoint the Mulvaney partnership as the cause of Bud’s sudden decline in market value, but many think there is an obvious correlation between the two.