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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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
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