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July 6, 2023Bud Light maker Anheuser-Busch InBev has lost a whopping $27 billion in market value in the wake of its star-crossed partnership with Dylan Mulvaney — most recently slammed by a 4% stock drop this week.
AB InBev’s market capitalization fell to $107.44 billion through the end of May — down more than $27 billion from the $134.55 billion value the company had on March 31, the day before Mulvaney’s partnership went live, according to Dow Jones Market Data Group.
May was the third-worst month on record for the company’s shares.
The stock is headed towards an official bear market — a 20% drop — as the boycott continues.
Shares of AB InBev closed Friday at $54.85, up 1.9%
That’s off 4% from their close last Friday and off 18% from March 31, when the beer maker enjoyed a share price of $66.73.
The Post has reached out to AB In Bev for comment.
Bud Light’s now-infamous promo with Mulvaney, 26, was posted on April 1, when the trans social media star shared a photo of a personalized beer can the brand sent her to celebrate her “365 Days of Girlhood.”
The post, which was shared with Mulvaney’s millions of Instagram followers, sparked a nationwide boycott of Bud Light and other beers in Anheuser-Busch’s portfolio, including Budweiser and Michelob Ultra, resulting in six straight weeks of plunging sales.
Last week, sales of Bud Light, America’s No. 1 beer, dropped 25.7%, according to data obtained by The Post, which followed a 24.6% decline the previous week.
Sales of Michelob Ultra, the nation’s No. 3 beer, were off 2.9% versus a year ago in the week ended May 13, in line with a drop a week earlier, according to a Bump Williams analysis of NielsenIQ data.
Sales of Budweiser, last year’s No. 7 beer with more than $1.8 billion in sales, were down 9.7% in each of the two most recent weeks.
