It will never cease to amaze me how far a company or a country will go to commit suicide.
Stocks do not move up and down randomly, as William H. Pike and Patrick Gregory tell us—they are directly related to the underlying fundamentals of a company—most notably revenue and sales. …
By all accounts, that means that companies like Anheuser-Busch might be irreparably damaged.
The world’s biggest beer distributor and manufacturer alienated its core audience and by doing so likely permanently maimed their flagship product Bud Light.
Common sense would dictate that they never should have entered into the Dylan Mulvaney partnership at all, and self-preservation would dictate that even though they made a mistake, they should have done everything in their power to right the course. …
Instead, the beer giant has chosen to double down. …
A recent press release from Anheuser-Busch reiterated their commitment to the LGBTQIA+ cause and even included the hefty sum of $200,000 for activist groups.
Here’s what everyone is saying:
.@BudLight announced this week that it is giving a $200,000 donation to an LGBT activist group while facing an ongoing boycott over its partnership with gender-confused activist Dylan Mulvaney.https://t.co/aSQjutf0A1#budlight #dylanmulvaney #lgbt #pridemonth #news
— LifeSiteNews (@LifeSite) June 5, 2023
Amala Ekpunobi, of Prager U, discussed this and other notable companies and brands committing suicide by going woke and subsequently going broke.
Target's Pride Problem, Chick-Fil-A Goes Woke, & Bud Light Doubles Down? https://t.co/G3dIGitS63
— Amala Ekpunobi (@amalaekpunobi) May 31, 2023
Anheuser-Busch stated in this press release:
Today, Bud Light and the National LGBT Chamber of Commerce (NGLCC), the exclusive certifying body for LGBT-owned businesses, announce they are extending their partnership to continue supporting economic opportunities and advancements for LGBTQ+ Americans and business owners across the country.
“Bud Light was brewed to be an ‘Easy to Drink, Easy to Enjoy’ beer for everyone 21+ and that still holds true today,” said Anheuser-Busch.
“We look forward to extending our work with the NGLCC to continue making a positive impact on the LGBTQ+ businesses that play a critical role in bringing people everywhere, together.”
This year, Bud Light will donate $200,000 to the NGLCC in support of its Communities of Color Initiative (CoCi).
This initiative is designed to support the growth and success of minority LGBTQ+-owned businesses through certification, scholarships and business development in an effort to create equal opportunities for the economic advancement of small businesses in the LGBTQ+ community.
The brand will also be supporting NGLCC’s first-ever CoCi Biz Pitch program, where the winning minority LGBTQ+ business owner will receive $5,000 and have the chance to go on to compete at the 2023 NGLCC International Business & Leadership Conference LGBT Biz Pitch Competition for $50,000 in cash and prizes.
“We’re honored to continue our partnership with Bud Light in support of LGBTQ+ businesses,” said the NGLCC.
“We appreciate the brand’s ongoing efforts to bolster our Communities of Color Initiative that empowers and supports both minority LGBTQ+ business owners and entrepreneurs, as well as the vital roles they play in communities across the United States.”
Anheuser-Busch is committed to the programs and partnerships they have forged over decades with organizations to drive economic prosperity across a number of communities.
Anheuser-Busch has a strong track record of industry leadership in supporting the LGBTQ+ community.
Over the past 20 years Anheuser-Busch has supported both local and national non-profit organizations that are committed to advocating for LGBTQ+ equality.
Popular conservative influencer and activist Drew Hernandez also discussed Anheuser-Busch’s donations and the doubling down of the world’s biggest adult beverage company.
Despite losing a massive chunk of their market share and share value, Anheuser-Busch continues to double down—I wonder what the price will sink to following the next earnings call. …
Trending Politics had more on the financial implications for Anheuser-Busch:
Bud Light experienced another dramatic sales drop ahead of Memorial Day, with sales plummeting 23.9% compared to the same period last year.
The decline in sales over the holiday weekend adds to a worrying trend for the brand, which has seen weekly sales decreases hovering around 25%.
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