- Target shareholders took a beating again on Friday, with the big-box retailer’s stock falling 3.26%. The backlash from the Pride controversy coincides with the stock losing over $15 billion in market value since mid-May.
- Shares plummeted to $126.99 when the market closed after eclipsing $161 just last month after a third Wall Street firm downgraded the shares on concerns over slowing sales.
- Since the controversy began, Target’s market cap has fallen $15 billion to $58.61 billion as of Friday’s closing price. Target’s market value was over $74 billion before the polarizing Pride displays made national news, as tracked by Dow Jones Market Data Group.
Trending
Target Market Cap Down $15B Amid Conservative Boycott
FILE - A worker collects shopping carts in the parking lot of a Target store on June 9, 2021, in Highlands Ranch, Colo. Target is removing certain items from its stores and making other changes to its LGBTQ merchandise nationwide ahead of Pride month, after an intense backlash from some customers including violent confrontations with its workers. (AP Photo/David Zalubowski, File)
Breaking Now
You’re not a mainstream media bias victim, are you?
Sign up and we’ll deliver breaking news and all the stories you need to stay informed.