Saturday, May 27, 2023

Target boycott, controversy causes retailer to lose billions - TheBlaze

Target boycott, controversy causes retailer to lose billions - TheBlaze

Target has lost billions in market value since the controversy stemming from the retailer's rollout of its eyebrow-raising LGBTQ Pride collection.

Last Wednesday, Target's stock closed at $160.96 a share — giving the big-box retail chain a market capitalization of $74.3 billion. However, Target's stock was trading at $141.76 — dropping the market capitalization to $65.3 billion. Within a week, Target dropped by 12% and lost $9 billion in market share.

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