Anheuser-Busch stock has nearly recovered the $6 billion it lost over Dylan Mulvaney debacle [Updated]
A few days ago people who were critical of Bud Light’s transgender marketing with that TikTok weirdo were very sooper excited that Anheuser-Busch, their parent company, had lost about $6 billion in their stock valuation.
Well that didn’t last long.
As of today, Anheuser-Busch has recovered nearly all of that lost value.
The ad dropped on April 1st, also bizarre, and the brou-ha-ha has been gaining steam since then.
Now, I am very much on the side of those critical of this idiotic decision by Bud Light. But, I have very little faith in the boycott. I’ve seen so many of these blow up on social media and then blow away when people lose interest and move on to the next outrage. That is the nature of social media scandals fueled by rage and attention deficit disorder.
Will any of the people who tweeted about Bud losing $5 billion tweet about this? Heck no. That’s boring.
Conversely, will any of the people NOW tweeting about Bud recovering their overall value, will they admit that Bud Light has been damaged by this idiotic move? Nope, that is also boring.
We’re all dumb, that’s the great news!!
If you’re still in the mood to self-radicalize, you can tweet that Anheuser-Busch is up 4.27% over the last month, so clearly, they were right to follow the transgender agenda!
If you’re on the other side, then you can STILL tweet that Anheuser-Busch is DOWN more than 34% over the last 5 years, so clearly, they are losing the woke war, the culture conflagration!!!
Also AB is up 38% over the last six months! Damn.
Something for everyone.
This is how both sides self-radicalize while annoying the hell out of the rest of us who are more reasonable.
One important side note: the boycott DID results in Bud Light firing their ridiculous marketing executive who ordered the transgender ad. That’s a solid win because it’s a warning to other companies not to simply hop on to the latest LGBTQ fad and expect everyone to slap them on the back for it.
UPDATE May 8th 2023:
Since I first posted this, it’s been reported that Bud Light sales have dropped by more than 21% in April.
First of all, that’s incredible. I honestly did not think a boycott would be that successful.
Secondly, here’s why it still may not matter at all:
On its first-quarter earnings conference call last week, Anheuser-Busch CEO Michel Doukeris said: “Let me start by clarifying a few facts. This was the result of one can. It was not made for production or sale to the general public. It was one post, not a formal campaign or advertisement, Bud Light’s campaign is Easy to Drink, Easy to Enjoy.”
He added: “The Bud Light volume decline in the U.S. over the first three weeks of April as publicly reported would represent around 1% of our overall global volumes for that period.”
One percent. The U.S. represents about 30% of the company’s sales. So a 20% drop in sales of 30% of the total comes out to about 6% of the total sales. If the boycott only lasts a short time, it just won’t make a difference.
And that’s why the stock price is just slightly below where it was when they started their idiotic trans campaign.