Posted on 05/31/2023 6:29:31 PM PDT by DeathBeforeDishonor1
Target’s stock has lost a whopping $13.8 billion over the past two weeks, hitting its lowest levels in nearly three years as the “cheap chic” discount retailer continues to face backlash over LGBTQ-friendly kids clothing.
Shares of the embattled chain sank 2.2% at $130.93 on Wednesday after dropping for eight straight sessions — the stock’s longest losing streak since November 2018 — giving the company a market capitalization of $60.4 billion.
That’s off 19% from two weeks earlier on May 18, when the stock was trading at $160.96 on the eve of the crisis.
It’s also the lowest levels Target shares have hit since the company was recovering from the depths of the pandemic in mid-2020.
The ongoing losses are a result of an ongoing 14-day boycott that was triggered by Target’s release of “PRIDE,” an LGBTQ-friendly line that includes clothing for children and “tuck-friendly” women’s swimwear with “extra crotch coverage.”
(Excerpt) Read more at nypost.com ...
Rectal Appreciation Month starts tomorrow, so I’m sure Target will bounce right back.
I wonder how many people are selling the stock as part of the boycott?
They certainly helped their ESG score, stockholders be damned.
How low can the consumers make their stock price go? That’s a challenge by the way.
I have already been boycotting Target. I haven’t been in their store for years (maybe 20), but on this issue, I wouldn’t even go in there if they were the only place that had an item on a wish-list that I was looking to buy as a gift for a loved-one’s special occasion. All my loved ones would understand.
Not nearly enough.
They need to go out of business or be purchased by another party who operate it as a business to sell goods vs. pushing political and social agendas against innocent children.
Conservatives are finally starting to understand:
We have MORE POWER as consumers than we have as voters.
We’ve never been supportive of boycotts, because, as a rule, we are pro-business. But, when business cares more about progressive policies than profit, we owe them NOTHING.
Bud Light and Target are showing our REAL power.
In the 1990s, TGT stock was riding in the $18 to $32 range. Around 2007, it hit around $59. Two years ago, it hit a max of $259, and went into a spin since then...from $140 to $180 at times. Presently? $130.
It was actually a decent dividend stock (paying near 3-percent).
I would make two observations. First, if customers do boycott them to some degree (say 20-percent less sales), then stock price will continue to slide, and dividend predictions will drop (maybe by 50-percent). That will encourage people to drop it (especially if you bought the stock back when it was $180 a share).
Second thing....once you get it down to $80 a share, I’d think that a hostile take-over is likely to occur. Someone will come with the funds to buy 51-percent of the company, and clean-up the mess, with no theme/message like this. Maybe even a brand name change (’New Target’).
In some southern cities (more rural surroundings), it might be a 50-percent drop in sales, and those stores won’t survive past January 2024.
They’re not going to bounce back... and either is Busch...
“Conservatives are finally starting to understand:
We have MORE POWER as consumers than we have as voters.
We’ve never been supportive of boycotts, because, as a rule, we are pro-business. But, when business cares more about progressive policies than profit, we owe them NOTHING.
Bud Light and Target are showing our REAL power”
Well said!
Target’s stock price continues it’s downward slide as the price opened down again this morning. Stock shares are trading at $128.32 down over $2.60 or approximately two percent.
Only stupid investors buy and sell for emotional reasons. You invest in stock to make money. If you invest for any other reason you lose money.
It is getting close to time to buy “BUD” stock.
Selling Target stock because of their politics would not necessarily be an emotional response. It might be viewed as standing on principle; refusing to profit from evil.
But generally you are right.
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