A choice darling at major sporting events and food and beverage establishments, Anheuser-Busch (BUD) typically benefits from positive public sentiment. As USA Today pointed out, Anheuser’s Bud Light is by far America’s favorite beer. However, the underlying company’s recent endorsement deal with a social media influencer sparked controversy. What’s more, traders appear to be anticipating further downside for BUD stock.
To provide a basic outline for the uproar, the AP reported that Anheuser inked a partnership with social media star Dylan Mulvaney. Generating popularity on TikTok for documenting her gender transition, Mulvaney represents a role model for many members of the LGBTQ community. In 2022, Anheuser rolled out its LGBTQ Pride-themed Bud Light cans in Canada. Notably, the cans featured various pronouns aimed at inclusivity.
