Bud Light’s Woes Continue: Donates $200K to LGBT Org, Receives Bad News.
Bud Light Continues to Hemorrhage Cash After Partnership with Transgender Activist
The fallout from Bud Light’s partnership with transgender social media activist Dylan Mulvaney continues to plague parent company Anheuser-Busch InBev. According to Fox Business, the company has lost a staggering $27 billion in total market value since April.
As of the end of May, AB InBev was valued at $107.44 billion, down from $134.55 billion just two months earlier. The company’s stock price has also dropped about 20 percent since late March, putting it on the brink of bear market territory.
Despite facing conservative boycotts over the Mulvaney promotion, Bud Light recently pledged to donate $200,000 to LGBT-owned businesses in order to “empower” them. This move has been criticized as another crisis management misstep by marketing experts.
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Read More From Original Article Here: Bud Light Continues to Bleed: Company Gets Horrible News After Donating $200K to LGBT Org
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