The rumor surfaced amid a right-wing push to stop buying the beer after it partnered with Dylan Mulvaney, a trans TikTok celebrity.
On April 3, the first Monday after news of Bud Light's partnership with Mulvaney spread, the value was $
132.06 billion. Between April 3 and April 12 , the company's market cap lost $6.33 billion, according to the data by YCharts. There was no demonstrable connection between the above-outlined statistics and conservative calls to stop buying Bud Light, just one of Anheuser-Busch's many products. As with all stocks, multiple factors affect market changes, such as political climate, competition, etc. – not just consumer behavior.BUD shares was $58.05 on Feb. 10, 2023, went up to $62.08 on March 3, and then declined to $59.78, on March 7."[Such]Dan Hunt, senior investment strategist at Morgan Stanley.
Similarly, Nicole Goodkind of CNN Business explained companies make more comebacks from declines than the other way around."The 14 bull markets since 1932 have returned 175% on average, while the 14 bear markets starting in 1929 have resulted in an average loss of 39%, according to S&P Dow Jones Indices data," GoodkindIn reality, as of this writing, the financial impact of the protest remains unknown.
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