Fresh Off Disney Lawsuit, DeSantis Preps To Take On AB Inbev Over Bud Light Controversy: 'At The End Of The Day There's Gotta Be Penalties'
Portfolio Pulse from Shanthi Rexaline
Florida Governor Ron DeSantis is considering a shareholder lawsuit against Anheuser-Busch InBev (NYSE:BUD) over a controversial campaign with transgender TikTok influencer Dylan Mulvaney. The campaign, aimed at boosting Bud Light sales, led to a boycott of Anheuser-Busch products and a 12% drop in the company's stock since March 31. The Florida pension fund, which holds over $50 million in AB InBev shares, saw its net worth decrease due to the controversy.
July 22, 2023 | 12:46 pm
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NEGATIVE IMPACT
Anheuser-Busch InBev's stock has dropped 12% since March 31 due to a controversial campaign. The company may face a shareholder lawsuit.
The controversy surrounding Anheuser-Busch InBev's campaign has led to a boycott of its products and a significant drop in its stock price. The potential shareholder lawsuit could further negatively impact the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Walt Disney Co. was mentioned in the context of a previous legal battle with Florida Governor Ron DeSantis.
Walt Disney Co. was mentioned passively in the article in relation to a previous legal battle with Florida Governor Ron DeSantis. This does not directly impact the company's current stock.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20