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4 stocks facing backlash right now

4 stocks facing backlash right now
Ana Zirojevic

As the summer of 2023 is fast approaching, some stock market participants have been feeling particular heat over their products, content, or marketing decisions during recent weeks, which has led to massive losses in the value of these stocks on their monthly charts.

Indeed, the controversy, criticism, boycott calls, and ridicule surrounding several major companies have led to unfavorable consequences for their businesses, not just in terms of declining sales or property destruction but also their shares, which are recording lower prices compared to one month ago as of May 30.

Walt Disney Co. (NYSE: DIS)

Amid a year-long dispute with Florida’s governor Ron DeSantis, media and entertainment giant Walt Disney Co. (NYSE: DIS) is also facing backlash and calls for a boycott from conservative activists, which have accused the company of promoting progressive and liberal agendas through its content.

As a result, these developments have exerted pressure on the price of Disney’s stock, causing it to decline from $102.41 to $88.40 over the previous 30 days, accumulating a monthly loss of -$14.01 or -13.68%, despite a brief recovery above the $102 threshold between May 8 and May 10.

Walt Disney Co. 30-day price chart. Source: Finbold

Target (NYSE: TGT)

Meanwhile, Target (NYSE: TGT) has been dealing with adverse reactions to its LGBTQ+ friendly clothing collection ahead of Pride month, which has seen some customers confronting workers and knocking down displays, forcing the retail company to remove certain items from its stores and make other changes.

Despite these alterations, the price of its stock has continued to plummet, having decreased from $157.12 to $135.95 across the past month, down -$26.16 or 13.47% during this time, as per the most recent data pulled by Finbold on May 30.

Target 30-day price chart. Source: Google Finance

Anheuser-Busch InBev / Bud Light (NYSE: BUD)

Similarly, the shares of Bud Light owner Anheuser-Busch InBev (NYSE: BUD) have been continuously falling since the brewer launched a promotional social media campaign involving transgender influencer Dylan Mulvaney, which has sparked conservative criticism and even ridicule.

Due to the outrage, neither Bud Light nor Budweiser has tweeted in over a month, while the stock price of their parent company has decreased -$9.15 or -14.16% in the last month, plunging from $64.63 on April 30 to $55.48 as of May 30.

Anheuser-Busch Inbev SA 30-day price chart. Source: Google Finance

VF Corp / The North Face (NYSE: VFC)

At the same time, VF Corp (NYSE: VFC), the parent company of popular outdoor recreation clothing and footwear brand The North Face, has been feeling the heat over the release of the ‘Come Out’ online advertisement featuring prominent LGBTQ+ activist and drag queen Pattie Gonia as part of its ‘Summer of Pride’ campaign.

Amid calls for a boycott of the apparel brand, led by conservatives like representative Marjorie Taylor Green, the stock price of VF Corp has fallen from $22.76 to $17.70 in 30 days, which represents a decline of -$5.06 or -22.21% on its monthly chart.

VF Corp 30-day price chart. Source: Google Finance

Conclusion

Indeed, these stocks have certainly been under a lot of pressure during these past several weeks, but this does not have to spell doom. As seen many times before in the stock market, investor interest might come back just yet for the companies that had fallen from grace for one reason or another, and time will tell whether the same could happen to the above market participants.

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