Investors in Target and Bud Light parent Anheuser-Busch are getting punished after a string of marketing controversies takes a toll on shares of both companies.
with the influencer's likeness as part of an ad for the company's March Madness contest and to celebrate the year anniversary since Mulvaney began identifying as a woman has cost Anheuser-Busch nearly $19 billion with shares down14% amid nationwide boycotts of the beer and sales tanking. The S&P 500 has risen 2.5% over the same time period.
Bud Light has faced intense backlash from longtime customers over recent campaign with transgender activist Dylan Mulvaney.It was pretty clear, with Bud Light, that decisions were made by the team working on the brand, but not by more senior executives. And so, there wasn't really a line in there. I think in hindsight a team would say, you really don't want to get involved in that controversial an issue.
Earlier this month HSBC analyst Carlos Laboy cut the stock to a hold rating following the backlash and in a note to clients raised the following questions. "Why did its US leadership underestimate the risk of pushback given the recent experience of other firms? Is A-B hiring the best people to grow the brands and gauge risk? If Budweiser and Bud Light are iconic American ideas that have long brought consumers together, why did these marketers fail to invite new consumers without alienating the core base of the firm’s largest brand? These questions are not trivial to the crisis and say a lot about the state of A-B’s marketing culture" he...
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