Anheuser-Busch takes another massive hit when major bank downgrades the company's stock
During one of my laps around the internet in search of that sweet content, a dude on Twitter asked in earnest that if Bud Light was going broke for getting woke, why hasn't the stock price been affected? Fair question, and one that the pile of PENN stock I'm sitting on shows I'm not qualified to answer. Thought we might get more of an answer soon. Anheuser-Busch's stock has just been downgraded to a HOLD.
Carlos Laboy, a managing director at HSBC’s global beverage sector, says you don't want to sell the stock you have, but definitely don't buy any more. After the words WORST marketing decision has led to people embarrassed to be seen with your product -- even for free -- AB has some 'splaining to do before anyone invests further in the company.
“Why did its US leadership underestimate the risk of pushback given the recent experience of other firms?”
“Is A-B hiring the best people to grow the brands and gauge risk?”
“If Budweiser and Bud Light are iconic American ideas that have long brought consumers together, why did these marketers fail to invite new consumers without alienating the core base of the firm’s largest brand?”
Let me take a step at answering these: 1. because the people hired to do these jobs live in a leftist bubble with other "professionals" living in a leftist bubble, 2. no, and 3. the marketers hate the core base of the firm's largest brand.
My assumption is that other companies will start answering those questions themselves because we're in uncharted waters here. The way it worked pre-Bud Light is that the companies only cared about the opinions of radical progressives demanding their every worldview be validated by every company in America. Normal people were left wondering why their favorite brand is bending over to radical progressive politics. Or why did the MLB All-Star game got moved out of Atlanta.
This is the first time normal, middle-of-the-road voters have spoken out. It's costing Budweiser its title as America's #1 beer. And other brands are beginning to notice.
From here on out, companies are going to have to do the risk assessment and decided if alienating the bulk of its audience by pandering to a small minority of woke leftists is worth it. The answer is now no.
Brodigan is Grand Poobah of this here website and when he isn't writing words about things enjoys day drinking, pro-wrestling, and country music. You can find him on the Twitter too.
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