In the aftermath of its ill-fated collaboration with Dylan Mulvaney, Anheuser-Busch InBev, the manufacturer of Bud Light, has suffered a staggering $27 billion decline in market worth, as a result of a 4% decline in stock.
On March 31st, before the end of May, InBev’s market capitalization fell from $134.55 billion to $107.44 billion, as Group Data Market Jones Dow went into partnership with Mulvaney’s company.
May was the third-most unfavorable month on record for the company’s stocks.
The stock is moving towards an official bear market — a 20% decline — as the boycott persists.
AB InBev’s shares concluded the week at $54.85, marking a 1.9% increase.
The beer maker enjoyed a share price of $66.73 on March 31, which was 18% lower than their previous close from Friday, which was 4% lower than that.
The newspaper has contacted AB In Bev for a response.
“365 Days of Girlhood” sent her brand new personalized beer can to celebrate when Mulvaney, 26, shared a photo on social media featuring the now-notorious promo of Bud Light, posted on April 1.
The post shared by Mulvaney, which sparked a nationwide boycott of Budweiser Light and Ultra Michelob, resulted in six straight weeks of plunging sales in Anheuser-Busch’s portfolio, including other beers. This post was shared with millions of Instagram followers.
Based on information acquired by The Post, which tracked a decrease of 24.6% in the preceding week, the sales of Bud Light, the top-selling beer in America, experienced a 25.7% decline in the last week.
Based on a Bump Williams analysis of NielsenIQ data, the sales of Michelob Ultra, the third most popular beer in the country, decreased by 2.9% compared to the same period last year, aligning with the previous week’s decline.
Over the past two weeks, Budweiser, which was the seventh best-selling beer last year with sales exceeding $1.8 billion, experienced a 9.7% decrease in sales.
Anheuser-Busch started the boycott after their brand, which was scrambled to rebuild, had a disastrous partnership. In honor of Memorial Day weekend, they are giving away free 15-packs of Budweiser and Bud Light with rebates. As a result, the shelves in liquor stores have accumulated unsold cases of beer that have expired. They are now buying back these cases and clearing the dust from the liquor store shelves.
Bud Light once again raised eyebrows among conservative social media critics as the sponsor of the Pride Parade in Cincinnati last week.
On June 24th, the yearly occasion, set to take place, discloses that the Anheuser-Busch label is contributing its name to the list of sponsors on the event’s website.
The image on the page shows a rainbow-colored Bud Light bottle next to a glass of beer, with the heading “Together in Pride.”
Meanwhile, the marketing executive from Bud Light linked to the Mulvaney collaboration has declined to comment on the contentious marketing agreement.
“When approached for comment on Mulvaney’s promotion, her friend interjected, saying that she is not allowed to discuss it,” 39-year-old Alissa Heinerscheid declined to comment.
In March, Heinerscheid took a leave of absence from Bud Light, as Mulvaney saw the partnership with Golightly Holly promoting Madness March as a start of hemorrhaging billions of dollars, while frolicking in a bath full of bubbles in April.
It is still uncertain whether Heinerscheid has returned to work or is still on leave.