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A chainsaw has been taken Anheuser-Busch’s stock price since the Bud Light/Dylan Mulvaney disaster.
The transgender activist, whose entire brand seems to be mocking women and behaving like a child, released a Bud Light promo for March Madness April 1.
In the promo, Mulvaney pretended to be a moron too stupid to understand sports. Is there a single woman you know who doesn’t know what college basketball is? Probably not.
Anheuser-Busch stock gets crushed.
The Friday before the video was released, Anheuser-Busch’s stock price closed at $66.73 a share. Before the market opened Thursday, the price sat at $58.76 a share.
That represents an 11.94% decline in the span of about six weeks, which represents billions in lost market cap. The price has seen a drop of more than 9.5% in just the past two weeks.
The stock initially didn’t show too many cracks, but as more and more data rolls in of Bud Light sales collapsing, it appears Anheuser-Busch is finally feeling some serious pain.
Bud Light retail sales were down 23.6% in the latest data released, and it’s not just BL getting crushed. Budweiser, Michelob Ultra and Natural Light are all also down, but at a much lower rate.
The pressure on Bud Light isn’t stopping.
It’s almost hard to believe more than a month and a half have passed since Dylan Mulvaney released the insane March Madness promo, and the pressure isn’t only not stopping, it appears to be getting stronger.
With every passing piece of data that gets released, Bud Light continues to get crushed. It’s becoming the greatest example of going woke and going broke in recent memory.
A stock price decline of nearly 12% in six weeks is nothing short of shocking. It goes to show just how upset people are.
The average Bud Light fan just wants to crush drinks after a long day of work. They want to crack cold ones and watch their team. They don’t want to have woke politics injected into their beer.
That’s something Bud Light apparently doesn’t understand. Now, they’re feeling the wrath of angry customers, and investors have to be furious. Billions in value have been wiped out.
When will the pressure finally let up? It doesn’t appear to be in the near future. That much is for sure.