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Bud Light Stock Suffers Huge Tumble as Company Loses $4 Billion in One Week
Anheuser-Busch InBev SA (AB InBev), the company that owns Bud Light, have slumped by 5.2 percent since last Friday, wiping more than $4 billion off the company's value as conservative activists continue a boycott.Bud Light has been targeted by right-wing campaigners since April over its partnership with transgender influencer Dylan Mulvaney, who received a personalized beer can from the brand as part of her Day 365 of Girlhood celebration.The Bud Light boycott has become a key test of conservative market firepower. A number of other companies, including Target and Kohl's, have been the targeted by boycotts in response to their LGBTQ advocacy, and in particular the sale of Pride-branded products aimed at children.Between Thursday and May 26, the value of an AB InBev share fell by 2.78 points, or 5.26 percent.