In an unprecedented development, Target’s stock price fell to a 3-year low on Thursday amid intensifying backlash over the company’s decision to sell Pride merchandise aimed at children. The stock price plummeted to $137.39 USD, a low not seen since August 2020, before rebounding slightly, but the downward trend continued.
The Minneapolis-based retail giant has reportedly lost $9 billion in market value since calls for a boycott began on social media. Just a week ago, before the controversy erupted, Target’s stock closed at $160.96 a share, but has now tumbled to $141.76, shrinking the company’s market value to $65.3 billion, a 12% drop.
🚨BREAKING 🚨
Target stock has just COLLAPSED to its lowest trading value in a YEAR with no end in sight.
For the first time in my life, common sense Americans are standing up for themselves and committing to ACTION.
We are the majority. We are winning. We’re just getting… pic.twitter.com/7y0DBtUemi
— Benny