Coors Stock Surges Amid Bud Light Boycott
Anheuser-Busch InBev has faced calls for a boycott.The backlash against Anheuser-Busch came after it was revealed that one of its beer brands, Bud Light, had partnered with transgender influencer and activist Dylan Mulvaney.On April 1, Mulvaney posted a video on Instagram in which she revealed that Bud Light had sent her a personalized can with her face on it to commemorate the one-year anniversary of her gender transition.
Following her announcement, many conservatives took to social media to announce they were boycotting Bud Light as well as all other Anheuser-Busch beverages.
A large number of these boycotters said they would be switching to Coors Light.Perhaps as a result of these pledges of a brand switch, Molson Coors—parent company of Coors Light—has seen an uptick on the New York Stock Exchange.
On March 31, the day before Mulvaney's announcement, the company's stock was trading at $51.68. As of Friday, the stock was at $55.97, an 8.3 percent increase.Meanwhile, Anheuser-Busch's stock price has slid.
