from The Epoch Times:
Major brands such as Bud Light and Target, among others, are facing immense backlash from supporting LGBTQ causes, with the market capitalization of the firms crashing by double digits in recent weeks.
Stores of Target were boycotted after the retail giant rolled out its Pride collection at the beginning of May, including some items targeted at children. Between May 1 and May 30, Target’s market capitalization fell from $72.52 billion to $61.78 billion—a decline of 14.80 percent. Bud Light became a target after partnering with transgender social media personality Dylan Mulvaney in a promotional campaign in April. Between April 3 and May 30, the market cap of Anheuser-Busch, which owns Bud Light, fell from $132.06 billion to $108.19 billion—a decrease of over 18 percent.
TRUTH LIVES on at https://sgtreport.tv/
Target shares were trading at $130.93 as of 06:07 EDT, June 1, down 13.71 percent year to date and at a fresh 52-week low. It is the stock’s longest losing streak since November 2018. Shares of Anheuser-Busch Inbev SA were trading at €49.97, down 12.18 percent for the year.
In addition to Target and Bud Light, several other companies, including PetSmart, Chick-fil-A, and Walmart, are also now facing boycott calls due to their endorsement of the LGBTQ agenda.
A major factor enticing brands to increasingly promote transgender ideologies is an attempt to score points on environmental, social, and governance (ESG) standards used by several high-profile investors.
Target
Target rolled out its Pride collection at the beginning of the month, offering over 2,000 products, including clothing, books, home furnishings, and calendars, among others. Some of the items were targeted at children.
For example, books for kids aged 2–8 had titles like “Pride 1,2,3,” “Bye Bye, Binary,” and “I’m Not a Girl.” Target also suggested “The Pronoun Book” to kids aged 0–3. In home décor, Target offered mugs labeled “Gender Fluid.” It also offered transgender swimsuits for adults with a “tuck-friendly” feature.
The company’s actions attracted a lot of negative reactions online, eventually leading to a boycott call. The firm then decided to remove some of the controversial items.
Target’s 2022 ESG report shows that at least 51 percent of its suppliers are “owned, controlled, and operated by women, BIPOC, LGBTQIA+, veterans, or people with disabilities.” In addition, 59 percent of their Pride Month assortment was created by LGBT creators and brands.
Target has also donated $2.1 million to New York City-based Gay, Lesbian and Straight Education Network (GLSEN), an activist group that puts LGBTQ-themed books in K–12 school libraries and encourages teachers to discuss sex and gender with kids.
Bud Light
In April, Anheuser-Busch sent custon Bud Light beer cans to Mulvaney featuring the trans-activist’s face, a move that was criticized as pushing the transgender agenda. The can was created to celebrate a full year of Mulvaney transitioning to “girlhood.” In the ad, Mulvaney is shown promoting Bud Light drinks with the hashtag #budlightpartner.
