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Originally Posted by MRCboicgy
Seeing the victory lap by the blue check crew over wokeness was predictable.
The Target/Bud light "losses" story is just simply not rooted in reality. Yes, their market cap went down, but that doesn't reflect a slow-down in sales the right-wingers think it does. ABEV's market cap is over $50B this week, 'recouping' and surpassing those so-called losses. Target is down, but CPG is all over the place right now. Correlation is not causation.
As Mrs. Slocombe would say: "Weak as water." regarding the NHL BoG
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I mean, Bud Light losses are absolutely a real thing. They haven't reported financial results that include the boycott period yet, but industry reports are of sales declines in the 20-25% range year over year. CNN seems unlikely to exaggerate to support a far right cause...
https://www.google.com/amp/s/amp.cnn...ate/index.html
The US entity has the ticker BUD and has a $112 billion market cap, down roughly $20 billion from when the controversy broke.
Right and wrong are independent of financial cost, but I can understand why the NHL is scared of this.
Edited to add: you quoted the market cap of Ambev, which sells beer in Canada and South America, markets that haven't had nearly the same impact from the boycott. This is a US issue, BUD is the correct issue to look at