American “beer” brand Bud Light knocked $4 billion dollars off its parent company Anheuser Busch’s market cap this past week, following a pro-transgender advertisement featuring the biological male known as Dylan Mulvaney.
On March 31st, Anheuser Busch had a market capitalization of 132.38 billion dollars. By April 10th, that figure had dropped to $128.4 billion, with signs that the stock price will continue to fall.
Mulvaney, 26, posed with a Bud Light can in a bubble bath in early April, in a failed Bud Light marketing attempt to alter its targeted demographic.
The campaign was an instant disaster for the company which provoked furious backlash and an almost unanimous verdict amongst its customers: boycott the brand. The result after just a few days has been a 3 percent decline in Anheuser Busch’s stock price.
One such irate customer was recording artist Kid Rock, who uploaded a video of himself shooting stacked crates of Bud Light with an MP5, before turning to the camera and saying “f*** Bud Light.” The video has since been viewed more than 51 million times on Twitter alone.