Well, it looks like Anheuser-Busch’s decision to partner with Dylan Mulvaney to promote their Bud Light brand is not going over like they hoped it would:
Anheuser-Busch loses more than $5 billion in value amid Dylan Mulvaney Bud Light controversy https://t.co/aBKYG9J3Tu pic.twitter.com/TatceNNibk
— New York Post (@nypost) April 12, 2023
From the New York Post:
Beer colossus Anheuser-Busch saw its value plummet more than $5 billion since the company announced its branding partnership with controversial transgender social media influencer Dylan Mulvaney.
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 on Wednesday.
Anheuser-Busch stock fizzled more than 1.5% on Wednesday.
Is that a lot? https://t.co/ZCm8yTuWQs
— jimtreacher.substack.com (@jtLOL) April 12, 2023
We’re not economists but it sure does seem like a lot to us.
It has been 12 days since Bud Light and Dylan Mulvaney announced their partnership.
The beer 🍺 brands parent company, Anheuser-Busch, has lost $3 billion in value plummeting from a value of $132 Billion to $129 Billion [Source: Daily Mail]
Bud Light sales have dropped 30% in… pic.twitter.com/5pizmaWHyz
— Oli London (@OliLondonTV) April 12, 2023
Bud Light has lost approx $7 Billion in market cap in 5 days.
I'm not a stonk market guy but this seems bad. pic.twitter.com/XFLDo0kEts
— Benny Johnson (@bennyjohnson) April 12, 2023
Bud Light is a big brand, and anyone who has spent even five minutes on social media knows its users have a roughly forty-eight hour attention span on any given controversial issue, but this one looks like it might have legs out in the real world:
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I can’t speak for the stock value. I can simply say those I speak to in my neighbor & at work are saying they won’t buy it. Totally unofficial just water cooler talk. It will be interesting to see what happens in the next few months.
— Redbird (@Redbird412Norm) April 12, 2023
Yes. Yes it will.
HERE👏FOR👏THIS👏👏👏
Let’s keep going!!! pic.twitter.com/q0QtpTb5SL
— Lucy Riles (@LucyRiles) April 12, 2023
The bottom line is that no matter how people personally feel about this partnership, this was probably not Bud Light’s best move.
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