Skip to main content
We may receive compensation from affiliate partners for some links on this site. Read our full Disclosure here.

Target Stock Takes A Major Hit

The saying goes if you go woke then you go broke, and that couldn’t be any more true than what Target is experiencing right now.

Just weeks after Target started to promote “Pride” gear that featured “tuck friendly” bathing suits for “trans kids” Target’s stock has dropped over 11%.

The market value of Target in total has lost over $9 billion dollars and that number is expected to drop even more.

Before going completely woke Target’s stock closed at $160.96 a share not Target shares are going for $141.76.

The New York Post had more details to add:

Target has lost $9 billion in market value since angry social media users called for a boycott of the Minneapolis-based retailer over its rollout of the “PRIDE” collection featuring LGBTQ-friendly clothing for children.

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.

Target said on Tuesday it was removing some items from its stores and making other changes to its LGBTQ+ merchandise nationwide ahead of Pride month after intense backlash from some customers who confronted workers and tipped over displays.

Red State had more details to report:

We’ve seen what has happened to Bud Light since they endorsed transgender influencer Dylan Mulvaney’s “365 Days of Being a Girl” as he mocked girls and women. As I reported earlier, they’ve now been reduced to trying to sell their beer for free (with rebates).

Yet, their sales have plummeted by 28 percent, by volume, just as we go into Memorial Day weekend, and they still don’t seem to be able to offload the stuff. They’re even buying some back from distributors at this point if it’s gone past the expiration date. If they can’t recover over this weekend, the beer experts are saying they may have lost a permanent section of their customers who are just not going to come back.


Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Leave a comment
Thanks for sharing!