Beer Colossus Anheuser-Busch’s value plunged more than $5B since it announced its partnership with Dylan Mulvaney, a controversial transgender social media personality.
Bud Light shares have dropped by almost 4% since March 31 — reducing the company’s market capitalization to $132.38 billion from $127.13 billion as of Wednesday.
Stocks of Anheuser-Busch fell more than 1.5% Wednesday.
The company is currently dealing with the fallout from conservatives regarding its deal with Mulvaney (26-year-old transgender advocate with more than 10,000,000 followers on social media).
Mulvaney retorted Tuesday against critics, accusing them that she is bullying them because she’s “easy to target”.
Mulvaney, a guest on “Onward with Rosie O’Donnell”, stated that her trolls purposely twist her words and actions to attack the transgender community.
Mulvaney stated that “the reason I think I am so…I’m an easy target because I’m so young to this.” Mulvaney said, “It’s a lot harder to go after a transgender woman who has been doing this for 20 years.” They may think there’s a chance with me… But what is their goal?
“These people don’t get me. Anything I say or do gets taken out of context. It’s so disappointing because all I try to convey is positivity. It’s about trying to make connections with people who don’t get me. It is to make people laugh, or make children feel loved.
Mulvaney posted photos and videos on social media to promote her sponsorship deal for Bud Light. The company produced cans in Mulvaney’s image to celebrate the partnership.
Kid Rock shot several Bud Light cans with an assault rifle after being endorsed by Mulvaney.
A Missouri distributor was forced to cancel a visit by Budweiser Clydesdale horses because of fears for staff safety.
According to industry experts, Tuesday’s Post interview revealed that Anheuser-Bush is likely to continue to be in power. This could result in a boycott of Anheuser-Bush products.
Mulvaney is reportedly negotiating sponsorship deals worth more than $1,000,000 with top-name brands like Nike and Kate Spade.
Megyn Kelly lashed at Mulvaney’s “non-breasted” deal with Nike.
Kelly stated that Nike is sponsoring Dylan Mulvaney for a sports bra during Tuesday’s SiriusXM edition of “The Megyn Kelly Show”.
“I’m sorry Dylan doesn’t have breasts.”
“Dylan has been taking some kind of hormone that has made Dylan some… I don’t know what’s going on there, but these are not breasts.”
Kelly claims that Dylan doesn’t even need a bra, let alone a sports bra.
Both Nike and Bud Light have responded to the criticism and stood behind Mulvaney.