(SNews) – Anheuser-Busch saw its total valuation drop more than $5 billion since the company announced its branding partnership with transgender social media influencer Dylan Mulvaney.
Since March 31, shares of Bud Light’s parent company have fallen by nearly 4% — knocking down the company’s market capitalization from $132.38 billion to $127.13 billion on Wednesday.
Anheuser-Busch stock fell more than 1.5% just on Wednesday. The backlash to the campaign was swift and fierce. Kid Rock went viral for shooting up cases of Bud Light, other stars soon followed. Evidence poured in from around the country of sales tanking for Bud Light with many insiders fearing that the boycott has legs.
Enter John Rich who gave a Bud Light sales update: “Instead of tossing #Budlight out of my bar, Redneck Riviera Nashville, when the story broke, I gave it a week to let my customers decide.
“Well, they spoke.
“Bud Light went from our #1 selling beer to flatlining in sales.
“My current inventory of Bud will be skunk before it’s depleted. Case closed.”
Trans activist Dylan Mulvaney hit back at critics of her Bud Light campaign during an appearance on Rosie O’Donnell’s podcast. Mulvaney said:
“The reason that I think I am so. I’m an easy target is because I’m so new to this. I think going after a trans woman that’s been doing this for like 20 years is a lot more difficult. I think maybe they think that there’s some sort of chance with me. But what is their goal?
“These people, they don’t understand me and anything that I do or say then somehow gets taken out of context and is used against me and it’s so sad because everything I try to put out is positive.
“It’s trying to connect with others that maybe don’t understand me. It’s to make people laugh or to make a kid feel seen,” she said.
Kid Rock started off the boycott with a viral post that has been viewed 49 million times, saying:
“Grandpa is feeling a little frisky today. Let me say something to you all as clear and concise as possible,” before turning his back to the camera and firing off a few rounds at some Bud Light beer cases.
He ended with:
“F*ck Bud Light and f*ck Anheuser Bush. Have a terrific day.”
Instead of tossing #Budlight out of my bar @rnrbarnash when the story broke, I gave it a week to let my customers decide. Well, they spoke. Bud Light went from our #1 selling beer to flatlining in sales. My current inventory of Bud will be skunk before it's depleted. Case closed.
— John Rich🇺🇸 (@johnrich) April 12, 2023
John Rich talks about how Bud Light sales nosedived at his Nashville bar after the beer company recruited Dylan Mulvaney. pic.twitter.com/hLPuZFa4dJ
— The Post Millennial (@TPostMillennial) April 12, 2023