Parent company of Bud Light, Anheuser-Busch, has lost approximately 4.7% of market value, bringing the market cap loss over the $5-billion mark. This comes following Anheuser-Busch’s partnership with trans activist and social media influencer Dylan Mulvaney. It was met with immediate backlash on social media with big names like Kid Rock and country singer John Rich boycotting the company. Harry Schuhmacher, Beer Business Daily editor and publisher, said Anheuser-Busch distributors are “spooked” because of the backlash. He said, “There was a little bit of worry, especially in the South and the Midwest and especially in rural areas where retailers were reporting the, you know, their customers weren’t happy with Bud Light and some retailers themselves weren’t happy with Bud Light.” Anheuser-Busch so far has refused to comment.
