Anheuser-Busch Stock Drops Amid Bud Light Dylan Mulvaney Controversy
Anheuser-Busch InBev took a slight dip on Monday in the wake of continuing backlash over news that one of the brewing company's brands has a partnership with transgender influencer and activist Dylan Mulvaney.Mulvaney—who uses she/they pronouns—posted on Instagram last week that Bud Light had sent her commemorative cans of beer that featured an image of her face to mark the one-year anniversary of her gender transition.
Following her announcement, right-wing musician Kid Rock posted a video on social media of himself shooting Bud Light cans for target practice, and country star Travis Tritt announced he would no longer sell Budweiser at his concerts.TheStreet, a financial news website, reported that stock for Anheuser-Busch InBev was lower by 3 percent on Monday.
However, the outlet also reported that the drop comes following "a 10-day win streak, which vaulted Anheuser-Busch stock to 52-week highs."TheStreet further noted that even with the controversy regarding Mulvaney, Anheuser-Busch continues to come out ahead of competitors like Molson Coors and Boston Beer on the stock market.
At the time of publication, Anheuser-Busch shares were sitting at $64.99 on the New York Stock Exchange (NYSE).Since the public fallout began over Mulvaney's partnership, the social media accounts for Bud Light have not included any posts on the subject.
