Loses 12% in stock price and 9 billion in market cap
A week ago Wednesday before the controversy erupted, Target’s stock closed at $160.96 a share, giving the big-box chain a market capitalization of $74.3 billion. As of early trading on Thursday, however, shares of the company were trading off 1% at $141.76 — capping a weeklong tumble that has shrunk the “cheap chic” discount retailer’s value to $65.3 billion. That amounts to a 12% drop that has shaved a whopping $9 billion off the company’s market capitalization.
Well go woke and I guess your stock plummets. Such are the hard lessons being learned by Anheuser-Busch and now Target. Seems that once you go woke, have to scale back because you pissed off people, then you piss off the woke crowd you were trying to pander to in the first place and then nobody is happy! Way to go!
Look. This is very simple. Just leave the politics and social ideology out of your business decisions. If you are a beer company, try to sell beer rather than sell transgenderism. If you are a dept store, try to sell your products rather than groom children into becoming more LGBTQ+ friendly. Considering everything political offends more than half the population, you are best off avoiding it all together.
2 comentários