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John Rich - Anheuser-Busch sheds roughly $5 billion in value since Bud Light’s Dylan Mulvaney pact sparked outrage - fox29.com - New York - state Tennessee - city Nashville, state Tennessee
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Anheuser-Busch sheds roughly $5 billion in value since Bud Light’s Dylan Mulvaney pact sparked outrage
Dylan Mulvaney.As of Wednesday's close, Anheuser-Busch has fallen 5.02% and lost $4.562 billion in market cap, according to Dow Jones Market Data Group.The stock was $66.73 per share on March 31 and closed at $63.38 on Wednesday. An analysis on the matter was first published in the New York Post.Mulvaney, a trans activist and social media influencer who gained prominence when given an opportunity to interview President Biden about LGBTQ issues in 2022, revealed earlier this month that the beer company sent packs of Bud Light with her face printed on the cans as part of an ad for the beer company’s March Madness contest and as a way to celebrate a full year of "girlhood."Mulvaney said the cans were her "most prized possession" on Instagram with a post featuring "#budlightpartner." A video then featured Mulvaney in a bathtub drinking a Bud Light beer as part of the campaign, but the pact was met with significant criticism.Anheuser-Busch stock plummeting comes as country music singer John Rich said he pulled cases of Bud Light from his Nashville, Tennessee, bar as part of a boycott against Anheuser-Busch; conservative rocker Kid Rock used several Bud Light cases for target practice in a viral video; and there has been widespread backlash on social media while beer distributors are concerned. Anheuser-Busch did not immediately respond to a request for comment about its stock. The company had previously stood by the decision.RELATED: Kid Rock shoots up Bud Light cans with rifle to protest Dylan Mulvaney partnership: 'F--- Bud Light'"Anheuser-Busch works with hundreds of influencers across our brands as one of many ways to authentically connect with audiences across various demographics.
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