Target Loses $10 Billion From Investors Due to Boycott

Objectivity 3.6 | Credibility 4.8 | Relevance 4.8

Target has lost $10 billion in market capitalization in ten days following backlash over prominent LGBTQ+ PRIDE displays, including transgender items for children, that triggered widespread boycotts. The company’s stock price went from around $160 to $138 per share. The company quickly reacted and focused on damage control. An insider at Target said, “We were given 36 hours, told to take all of our Pride stuff, the entire section, and move it into a section that’s a third the size. From the front of the store to the back of the store, you can’t have anything on mannequins and no large signage.”  This move was an attempt to avoid a “Bud Light situation.”