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April 13, 2023
Anheuser-Busch stocks dropped this week on the heels of conservative backlash over Bud Light’s decision to partner with trans influencer Dylan Mulvaney in a promotional spot on social media.
The company’s shares dropped 1.5 percent on Wednesday, bringing the total dip per share to about 4 percent since March 31. The drop is the result of conservative outcry over a social media ad Bud Light put out last month starring trans influencer Dylan Mulvaney as a March Madness promotion. Conservatives across the country took to social media to express their displeasure over Bud Light’s support of the trans community.
Mulvaney spoke out on Tuesday about the backlash, saying, “I’m an easy target because I’m so new to this,” Mulvaney said. “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.”
According to The Street, Anheuser-Busch’s stock had enjoyed a 52-week highs up until last week when the Mulvaney controversy broke. Anheuser-Busch released a statement about the uproar, saying, “Anheuser-Busch works with hundreds of influencers across our brands as one of many ways to authentically connect with audiences across various demographics and passion points. The statement continued, “From time to time, we produce unique commemorative cans for fans and for brand influencers, like Dylan Mulvaney. This commemorative can was a gift to celebrate a personal milestone.”
ARTICLE: LAURA SPIVAK
MANAGING EDITOR: LUKE MOCHERMAN
PHOTO CREDIT: NEWSWEEK