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Culture Wars

Target Market Cap Down $15B Amid Conservative Boycott

View Source | June 9, 2023 6:43 pm

  • 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.
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