Bud Light Drama Caused $27 Billion Loss and Tanked Company Stock

📆 01/06/2023 07:07 p. m.
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Around $27 billion in Anheuser-Busch’s market value is now gone, falling to about $107 billion from over $134 billion in March.

, which caused a national stir when the beloved beer brand partnered with trans influencer Dylan Mulvaney earlier this year. Around $27 billion in the company’s market value is now gone, falling to about $107 billion from over $134 billion in March.

May was the third-worst month ever recorded for Anheuser-Busch InBev, which fell about 20 percent from its recent high in March. The controversy started when Mulvaney was sent a personalized pack of Buds as part of a March Madness ad campaign. Conservative uproar ensured, prompting ridiculous boycotts and a social media frenzy that is yet to fully subdue.

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Bud Light parent Anheuser-Busch sees $27 billion gone, shares near bear marketBud Light's marketing push rolled out two months ago has been a headache and a costly move for parent company Anheuser-Busch and its shareholders.
Fuente: FoxBusiness - 🏆 458. / 53 Leer más »