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Anheuser-Busch’s stock price isn’t even close to rebounding months after Bud Light went woke with Dylan Mulvaney.
Sales have been slashed, Bud Light’s brand has taken a hit unlike anything consumers have seen in recent history, billions in market cap has been wiped out and the stock price shows no sings of turning around.
Anheuser-Busch stock price remains down after Bud Light backlash.
Prior to the market opening Friday morning, Anheuser-Busch’s stock was sitting at $58.73 a share. That’s a staggering 11.99% decline from $66.73 price it was at the Friday before the April 1 promo with Mulvaney.
For those keeping tabs, it’s been 111 days since the Mulvaney video with Bud Light went live. It’s been nearly four months.
Yet, Anheuser-Busch’s stock price simply shows zero signs of getting back to the $66.73 a share that it was at when March ended.
A-B and BL remain in huge trouble.
Most boycotts and backlashes last a few days at the most. That’s not the case at all with Anheuser-Busch and Bud Light after teaming up with Dylan Mulvaney.
The backlash and pressure on the companies is now nearing four months and it’s expected to carry through the football season.
It’s not just bad. It’s an absolute bloodbath for the once-popular beer brand and its beer company.
Bud Light used to be the most popular brand in America. Now, it’s a cautionary tale and a punchline. It also hasn’t been the best-selling beer in America since May. That now belongs to Modelo. Truly a case study in going woke and going broke. Best of luck to the people in charge at A-B. 111 days later and they still need all the help they can get.