Bud Light’s parent company loses $5 billion dollars in value after partnering with trans influencer
| Last updated
Featured Image Credit: Jon D / Alamy Stock Photo. Instagram/Dylan Mulvaney
According to the Dow Jones Market Data Group, Anheuser-Busch is down 4.7 per cent - knocking the multinational drink and brewing company from USD $132.38 billion (AUD 197.66 billion) to USD $127.13 (AUD $189.82 billion) in market cap.
The beer maker’s stock lost more than 1.5 per cent on Wednesday alone following the polarizing campaign.
Many conservatives took to social media and announced they would boycott the beer in the wake of the partnership.
Among those outraged was musician Kid Rock, who posted a video of himself using Bud Light cases for target practice, while country music star Travis Tritt said Anheuser-Busch products would no longer be sold at his concerts.
And it looks like they kept to their word.
Their report said: “By Thursday afternoon, we had reached out to a handful of [Anheuser-Busch] distributors who were spooked, most particularly in the Heartland and the South, and even then in their more rural areas."
It added: "With the very limited data from a handful of wholesalers, it appears likely Bud Light took a volume hit in some markets over the holiday weekend, particularly in rural areas, which consist of their higher share markets.”
However, earlier this week, the social media influencer fired back at her critics while speaking with Onward with Rosie O’Donnell podcast.
Mulvaney said that her trolls often twist her words in order to target and undermine the transgender community.
“The reason that I think I am so … I’m an easy target is because I’m so new to this,” Mulvaney said.
“I think going after a trans woman that’s been doing this for like 20 years is a lot more difficult. I think maybe they think that there’s some sort of chance with me … But what is their goal?”
But despite the criticism, the 26-year-old said she regrets nothing about transitioning and being a spokesperson for the community.
"Even with all the hate and controversy just because I'm trans, it's still worth it because I wake up every day a little bit happier than I was the day before," she said.