Bud Light has taken a massive hit since it partnered with transgender influencer and activist Dylan Mulvaney last month. The brand has tried to rehabilitate itself with conservative consumers with Americana-saturated advertisements as well as camo- and Harley Davidson-themed cans, but bad news keeps rolling in for the company.
Sales for Bud Light declined 23.6% in the week ending on May 6 relative to the same period last year, marking a fifth straight week of plummeting demand. Additionally, other major brands that belong to Bud Light’s parent company, Anheuser-Busch, have taken a major hit, with sales of Budweiser, Michelob Ultra, and Natural Light falling 9.7%, 2.9%, and 2.5%, respectively, in the same period. Major international bank HSBC even downgraded Anheuser-Busch’s stock to a hold status, meaning investors are advised to neither buy nor sell the stock, over the fallout from the controversy.
.png)
.png)
