Beer maker Anheuser-Busch is suffering financial consequences for its decision to pursue a sponsorship deal between Bud Light and supposed “transgender” social media influencer Dylan Mulvaney, the New York Post reported.
According to the New York Post, the company’s value has plummeted over $5 billion since March 31, with shares in Anheuser-Busch falling by nearly 4 percent by Wednesday, from $132.38 billion to $127.13 billion.
Company shares dropped by another 1.5 percent on Wednesday, the Post reported.
Earlier this month, Mulvaney posted sponsored Bud Light content on his Instagram account to promote the beer’s March Madness contest.
The post quickly went viral on social media platforms, prompting swift blowback from conservatives and others who object to trans insanity, with calls for boycotts of Bud Light and all other Anheuser-Busch products.
Singer Kid Rock went the extra mile, posting a video on social media showing him shooting up cases of Bud Light.
With the controversy growing, over the weekend, a local Missouri distributor canceled a planned appearance of the famous Budweiser Clydesdale horses, citing fears for the safety of staffers.
Industry experts who spoke with the New York Post on Tuesday said the current controversy seems to have “staying power” which could lead to Anheuser-Busch facing a full-blown boycott of its products.
However, Anheuser-Busch stands by its decision to partner with the pretend girl.
A spokesperson with the company told NBC News that Anheuser-Busch frequently partners with different social media influencers to “authentically connect” with “various demographics.”
The young man who pretends to be a girl is reportedly bringing in over $1 million in corporate sponsorship deals. In addition to Bud Light, Mulvaney also has sponsorship deals with Nike and Kate Spade.