Target loses $9B in week following boycott calls over LGBTQ-friendly kids clothing Target has lost $9 billion in market value since angry social media users called for a boycott of the Minneapolis-based retailer over its rollout of the “PRIDE” collection featuring LGBTQ-friendly clothing for children. A week ago Wednesday before the controversy erupted, Target’s stock closed at $160.96 a share, giving the big-box chain a market capitalization of $74.3 billion. As of early trading on Thursday, however, shares of the company were trading off 1% at $141.76 — capping a weeklong tumble that has shrunk the “cheap chic” discount retailer’s value to $65.3 billion. That amounts to a 12% drop that has shaved a whopping $9 billion off the company’s market capitalization. Target said on Tuesday it was removing some items from its stores and making other changes to its LGBTQ+ merchandise nationwide ahead of Pride month after intense backlash from some customers who confronted workers and tipped over displays.
Why are morons like OP on a trading site if they have such little understanding of stock markets ? Should I put up an analysis of DWAC since the gullible losers bid it up to some insane valuation ?
Consumers that are investors/traders understand that stores like Target present a buying opportunity on negative news like this. If not, they also understand it presents a short-selling opportunity. Next month, they'll all be back shopping at Target for some other brand-name item, especially the ones that live in neighborhoods where there's not a competing Walmart. Just the same, lost revenue by Target is extra profits for companies like Walmart & Amazon until next month. Yet, if his buddy Innervoice was here...he'll blame it all on blacks if he couldn't find a way to profit off the news or he lost money with a bet on the wrong side of the news. wrbtrader
Just buy Target as it comes back, they are breaking their previous low. Why are these right wing losers on a trading site of they don't know the very basics? It's Nike all over again. Thanks cons, made easy money there. Even my assistant's little girl made bank on that. Why are you posting on a trading site @ipatent? You understand nothing. Their stock flew in 2020 plus and like others reverted and will build again. Convenience and cheapness beats principles in America every time. A few sales and the right can't resist.
in honesty, always though TGT would lose out to wally world and go the kmart way due in part to its "snootiness". Stores are nice but I'm not giving you more money just because you have neater aisles. Kind of surprised they're still around....then again so is Apple (debunking my snootiness theory) though at least they release newish products. I haven't checked out target online but Walmart caught up early as did Home Depot and Lowe's following....basically becoming like newegg trying to get a bite of Amazon's share.
I don't think I've ever been in one but I've heard my daughter mention them sometimes, she was talking about getting addicted to same day delivery from her local. For the past 20 years when I'm in the States it's restaurants, small stores and home cooking.. Life is therefore bliss Middle to upper middle class demographic I guess so their demographic won't be that red? Its not quite like Republicans calling for a boycott on caviar but I don't see them being hurt by this.
I don't know about that. Upper middle class suburbia is pretty red. When thumbing one's nose it's fairly distributed politically imo. Blue and red shop at both stores. They won't be hurt by whatever the latest outrage on trans is....haven't followed. It's not like they have a single product consumed primarily by man who think they're hard.