Target’s Market Value Drops $9 Billion In One Week Following Growing Boycott And Tarnished Brand Image Led By Conservatives
Bo Banks
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Conservatives are feeling optimistic about their latest on-going boycott against Target as the woke company’s market value drops $9 billion in just one week.
From The New York Post:
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.
Customers have taken issue with sex-fueled merchandise created by “Satanist” U.K.-based designer, Erik Carnell, like a pin that went viral which states “Satan respects pronouns.”
Other items include, but are not limited to, Target’s manufacturing of “tuck-friendly” and “chest-binding” swimsuits for children.
Over the course of the week, this outrage from conservatives has grown teeth, and Target is paying close attention to the public blowback.
For example, the retailer announced it would be removing some items from its stores and making other changes to its LGBTQ+ merchandise nationwide.
“I think this Target boycott has real staying power,” wrote Daily Wire’s Matt Walsh on Twitter Thursday.
“Target has now branded itself as a far left organization,” he added. “To the point where it’s embarrassing to shop there. This is the branding that makes the boycott stick. It happened to Bud Light.”
This is what conservatives have missed in the past with failed boycott attempts. It’s not enough to simply tell people not to shop somewhere or buy something. You have to make it so they don’t want to.
— Matt Walsh (@MattWalshBlog) May 25, 2023
Carnell, in an attempt to distance himself from the controversy, told the Daily Dot that he does not believe in Satan.
“I don’t believe in the Bible,” he said. “It’s a metaphor.”
The designer also slammed conservatives by stating they have “completely altered the facts to fit with the version they want.”
Though conservatives have admitted boycotting a major retailer like Target is a lot harder than swapping beer brands, prominent voices like host of the “Relatable” podcast, Allie Beth Stuckey, have called on customers to vow against shopping during the month of June.
“I promise it’s possible,” Stuckey urged her 400 thousand plus followers.
Christian women: maybe you feel that an all-out Target boycott is infeasible. But I encourage you to at least do it for the month of June. I promise it’s possible!!
— Allie Beth Stuckey (@conservmillen) May 22, 2023
With this boycott expected to only get worse for Target, it should be no surprise for prominent voices on the left to start throwing their hat in the ring regarding the controversy too.
Take Governor of California Gavin Newsome, for instance, who called all those who oppose LGBTQ merch aimed at children as “extremists.”
CEO of Target Brian Cornell selling out the LGBTQ+ community to extremists is a real profile in courage.
This isn’t just a couple stores in the South. There is a systematic attack on the gay community happening across the country.
Wake up America.
This doesn’t stop here.… https://t.co/1vRgukaT0g
— Gavin Newsom (@GavinNewsom) May 24, 2023
There will surely be much more to come as this boycott continues and Target feels the pain from the damage to its brand it caused.
Pay attention: The craziness is just getting started.
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