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Here’s how Bud Light stock reacted to losing no.1 beer spot in 2023

Here's how Bud Light stock reacted to losing no.1 beer spot in 2023

Earlier this year, Anheuser Busch (NYSE: BUD), the company behind Bud Light, experienced a sharp decline in its US-listed shares. 

The setback followed a tumultuous response to a social media ad campaign featuring influencer Dylan Mulvaney, resulting in nationwide boycotts against the once-favorite US brewer.

Although the BUD stock somewhat recovered since its May slump, the company’s woes are far from over.

Notably, Bud Light has been officially overtaken as the top-selling brand in the US on an annual basis, after dominating the charts for over 20 years, according to August 23 reports.

Modelo surpasses Bud Light for annual sales for first time

Now, the number one position in the country belongs to Modelo Especial, a brand exclusively owned by Constellation Brands. According to data by NielsenIQ on August 23, Modelo rose to 8.34% share of dollars spent on beer at stores in America since the start of 2023.

This compares to Bud Light’s year-to-date share of 8.28%. It is also the first time Modelo passed Bud Light for sales on an annual basis. 

Additionally, as of July 29, sales of Bud Light fell 14.5% on a dollar basis for the year, while Modelo gained 9.6% during the same period. Similarly, Bud Light’s sales volume tumbled 18.8%, whilst Modelo witnessed a 5.4% increase. 

Bud Light stock analysis

At press time, shares of Bud Light owner Anheuser were standing at $56.44, down more than 0.8% in the past 24 hours.

On a weekly basis, the stock gained around 1.75%, while losing over 3.4% on the monthly chart. 

BUD 1-month price chart. Source: TradingView

Year-to-date, BUD tumbled around 6.4%, with the boycotts-induced declines fueling the overall loss. 

New campaign to shore up stock price

In a bid to overcome sales and stock market losses triggered by this year’s boycotts, Anheuser-Busch turned to the upcoming NFL season’s kickoff next month. 

Notably, the company launched what it refers to as its biggest NFL campaign ever on August 24. The promotion, called “Easy to Sunday” includes fresh TV and online advertisements set to run throughout the season, and limited-edition products for 23 NFL teams with team colors, logos and a player illustration. 

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