(FamilyConservationPAC.com) – Target’s market value has dropped by $10 billion over the past ten days due to the ongoing criticism of its Pride-themed children’s clothing collection.
Target’s stock value was $160.96 per share a week ago on Wednesday, but after calls to boycott the Minneapolis-based company over their “PRIDE” line, it fell sharply and closed Friday at $138.93 per share.
Target, which operates close to 2,000 stores across the country, had its valuation decrease by almost 14%, or nearly $10.1 billion, to just $64.2 billion.
The retailer’s stock price hasn’t been this low in almost three years. The corporation last saw a dip this size in 2022 after the stocks returned following an enormous rise during the COVID pandemic.
Target loses BILLIONS after Pride display fallout pic.twitter.com/ZdqD6bykkg
— 1776 (@TheWakeninq) May 28, 2023
Target, which has been embattled in the gender culture wars in America, reported last week that demonstrators had damaged displays and threatened employees in some Southern shops where it has a “Pride” department.
The merchant added that some items would be dropped from the lineup but did not say which ones.
The “tuck-friendly” women’s swimsuits that let trans women who haven’t had gender-affirming procedures hide their genitalia and rainbow-themed children’s clothes were among the ones that attracted the most attention.
Sen. Ted Cruz of Texas questioned whether the backlash against the business would have the same impact as the conservative boycott of Target, which has been compared to the one against Bud Light, which saw sales collapse after teaming up with transgender influencer Dylan Mulvaney.
@tedcruz must be a @Target shareholder. https://t.co/rAUaWi9wNM
— America First '24✝️?? (@FrancoLexing1) May 28, 2023
The Republican claimed on his podcast on Friday that while there are many replacements for Anheuser-Busch’s brands, there are none for Target.
Instead, he compared the company with Disney, which endured wrath for opposing Florida’s infamous “Don’t Say Gay” law last year but is still a powerful business today.
“Even though you may dislike Disney, it may be difficult to say no if your children genuinely want to visit Disney World. There are not many options available. Disney World is a really distinct offering compared to Six Flags,” Cruz remarked.
“There is only one Toy Story, Snow White, or Cinderella from Pixar. Many people find it challenging to stop using the product permanently.”
The congressman from Texas claimed that because “conservatives have historically been not very good at boycotts,” the actions against Target would swiftly fizzle out.
“Selling the LBGTQ-friendly goods,” according to Target CEO Brian Cornell, was “the right thing for society.”
Target didn’t respond immediately to a comment request. As long as “woke” corporations continue to push their “woke” ideology on kids, parents and consumers will continue to fight back with their wallets.
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