The move to use Dylan Mulvaney as a brand ambassador has completely backfired on Anheuser-Busch.
Immediately after the announcement was made, the stock started to tumble.
Before the market opened on Friday, it was estimated that Anheuser-Busch had lost more than $5 billion in market cap.
Devasting Blow
I would suspect that the stock will rebound, as there are always investors looking for a bargain.
They will bank on the idea that this will eventually blow over, but I am not so sure that will happen.
We have seen several musicians boot the beer from their tours.
I have also seen reports from bars that are saying consumption of Anheuser-Busch products is down considerably since the news broke of this endorsement.
Bud products are also in stadiums and arenas across the country, so if sports fans band together and stop drinking these products, it will be a crushing blow to the company.
We will continue to follow this boycott because it does seem to be growing in nature.
For once, it may not be something that eventually just fades away.
Source: Fox News
