BOYCOTT SUCCESS: Target Loses $10 billion, BudLite Loses $16 billion in stock value
Target has lost \$10 billion in market valuation over the last 10 days as the popular retailer continues to face backlash over its Pride-themed clothing line for children.
A week ago Wednesday, Target enjoyed its stock value at \$160.96 a share, but following the calls to boycott the Minneapolis-based retailer over its "PRIDE" collection, the value plummeted and closed Friday at \$138.93 a share.
Bud Light's parent company Anheuser-Busch has seen its market value plunge \$15.7billion since the disastrous campaign with transgender-influencer Dylan Mulvaney.
Since April 1, the company has consistently been dropping down the rankings, with experts saying it 'just keeps getting a little worse each week'.
But their competitors have added \$3.2billion in market value to their brands in the same time.
Molson Coors, which owns Coors Lite, has seen an increase of \$2.2billion market value, around 20 percent, while Heineken has a spike of \$1billion - an increase of 1.7 percent.
Sales of Bud Light are down more than 23 percent as of the week ending May 6, according to JPMorgan beverage analyst Jared Dinges.
He said the bank expects a 12 to 13 percent volume decline over the course of a year in the US.
'We believe there is a subset of American consumers who will not drink a Bud Light for the foreseeable future,' the analysts said on Tuesday.