https://dailycaller.com/2023/05/25/target-loses-9-billion-in-market-value-in-a-week-following-boycott-over-lgbt-merchandise/
Target Loses $9 Billion In Market Value In A Week Following Boycott Over LGBT Merchandise
May 25, 2023
Target’s market value plunged $9 billion in one week after anger erupted over the store’s new “PRIDE” collection, which features clothing for children and babies as well as a chest-binding swim top and a “tuck-friendly” women’s bathing suit.'''
Social media users and conservative activists began calling for boycotts of Target following the release of their PRIDE line last week. The company was valued at $160.96 per share on May 17, at a market value of $74.3 billion; as of Thursday morning each share was valued at $139.84, the lowest in over a year, at a market value of $64.54 billion, according to MarketWatch data….
Target was previously subject to widespread protests in 2017 following the company’s decision to allow transgender individuals to use the restroom of their choice, according to The Wall Street Journal. More than 1.3 million people signed an online petition calling for a boycott of the retail giant, the store saw its first decline in same-store sales in two years and ended up spending $20 million building single-sex bathrooms in all of its stores in response to complaints about privacy.
Target did not immediately respond to the Daily Caller News Foundation’s request for comment.