• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle

Bud Light Parent Company’s Top Competitor Sees Stock Price Hit Highest Mark in Years – Analysts Say More to Come

June 9, 2023
Socialist Now Co-Frontrunner In NYC Mayoral Race After Final Debate With Cuomo

Socialist Now Co-Frontrunner In NYC Mayoral Race After Final Debate With Cuomo

June 13, 2025
MSNBC’s Nicolle Wallace Says Alex Padilla’s Removal Was ‘One Of The Bleakest Days’ Of Her Anchoring Career

MSNBC’s Nicolle Wallace Says Alex Padilla’s Removal Was ‘One Of The Bleakest Days’ Of Her Anchoring Career

June 13, 2025
Dems Finally Realizing Most Americans Don’t Want Enormous Climate Agenda Imposed On Them

Dems Finally Realizing Most Americans Don’t Want Enormous Climate Agenda Imposed On Them

June 13, 2025
‘Morning Joe’ Guest Says Noem ‘Failed’ To ‘De-Escalate’ Situation By Not Letting Heckling Dem Sen Ask Question

‘Morning Joe’ Guest Says Noem ‘Failed’ To ‘De-Escalate’ Situation By Not Letting Heckling Dem Sen Ask Question

June 13, 2025
Sole Survivor of Air India Crash Shares Details

Sole Survivor of Air India Crash Shares Details

June 13, 2025
‘The Stakes Are Real’: Border Hawks Counting On ‘Big, Beautiful Bill’ To Reach Finish Line

‘The Stakes Are Real’: Border Hawks Counting On ‘Big, Beautiful Bill’ To Reach Finish Line

June 13, 2025
Appeals Court Quickly Shoots Down Activist Judge — Lets Trump Keep National Guard On Street

Appeals Court Quickly Shoots Down Activist Judge — Lets Trump Keep National Guard On Street

June 13, 2025
Supreme Court Allows Cut in Funding for Teacher Training

Supreme Court Ruling Could Make It Easier for Students With Disabilities to Sue Schools

June 13, 2025
House Approves Funding Cuts to Foreign Aid, NPR, And PBS

House Approves Funding Cuts to Foreign Aid, NPR, And PBS

June 13, 2025
Texas Governor Deploys 5,000 National Guard Troops Ahead of Anti-ICE Protests

Texas Governor Deploys 5,000 National Guard Troops Ahead of Anti-ICE Protests

June 13, 2025
ELLIOT RESNICK: We Could Use Fewer College Graduates

ELLIOT RESNICK: We Could Use Fewer College Graduates

June 13, 2025
Iran Says Israel Killed Its Top Terrorist Commander In Airstrikes

Iran Says Israel Killed Its Top Terrorist Commander In Airstrikes

June 12, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Friday, June 13, 2025
  • Login
IJR
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls
No Result
View All Result
IJR
No Result
View All Result
Home News

Bud Light Parent Company’s Top Competitor Sees Stock Price Hit Highest Mark in Years – Analysts Say More to Come

by Western Journal
June 9, 2023
in News
242 10
0

NEW YORK, NEW YORK - MAY 04: A view of rainbow bottles of Bud Light during the 30th Annual GLAAD Media Awards New York at New York Hilton Midtown on May 04, 2019 in New York City. (Photo by Bryan Bedder/Getty Images for GLAAD)

491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Molson Coors, Anheuser-Busch InBev’s biggest competitor in North America, is thriving in the wake of its rival’s decision to have Bud Light partner up with transgender activist Dylan Mulvaney.

The Chicago-based company’s stock price has surged 28 percent since March amid a boycott of Bud Light, Forbes reported Thursday.

Over the same period, AB InBev has seen its stock price tumble by 18 percent.

Many market analysts believe the success of Bud Light’s competitors is not something that is temporary.

Molson Coors’ stock could jump much higher, according to an analyst for the investment banking company The Jeffries Group.

It closed at $66.65 on Thursday, its best finish since January 2019.

Kevin Grundy with Jeffries predicted the stock will hit $75 per share soon, which would be a 14 percent increase, Forbes noted.

Grundy is not the only market analyst feeling bullish about the company, whose brands include Coors, Miller, Milwaukee’s Best, Blue Moon, Hamm’s and Molson.

“Bank of America analyst Bryan Spillane upgraded Molson Coors from a sell to a buy in a Tuesday note to clients, citing the collapsing demand for Bud Light as the catalyst for Molson Coors to cash in on its broader reshuffling efforts in recent years and deeming Coors Light and Miller Light the ‘the main beneficiaries of the Bud Light controversy,'” Forbes reported.

According to the report, one-third of Bud Light distributors have expressed fears that the brand’s plummeted sales might be permanent.

Grundy, however, compared the ongoing boycott of the brand to the backlash against Nike after it partnered with former NFL quarterback and anti-American activist Colin Kaepernick.

He said the backlash against Bud Light will be “transitory” and predicted it will slowly “fade with time.”

In spite of Grundy’s optimism for the brand, the boycott of Bud Light has shown no signs of slowing down.

As of last week, AB InBev’s decision to partner with Mulvaney had cost it $27 billion in market value, the New York Post reported.

The company bottomed out for now on May 31 with shares closing at $53.40.

Shares were trading at $54.96 as of early Friday afternoon.

But the company was trading at $66.73 on March 31 — the day before Mulvaney unveiled a can of Bud Light on social media with his face on it.

Overall, the company’s stock price is down more than 13 percent over the last 30 days.

This article appeared originally on The Western Journal.

Tags: alcoholBoycottbusinesses and companiesCultureStock MarketTransgenderU.S. News
Share196Tweet123
Western Journal

Western Journal

Advertisements

Top Stories June 10th
Top Stories June 7th
Top Stories June 6th
Top Stories June 3rd
Top Stories May 30th
Top Stories May 29th
Top Stories May 24th
Top Stories May 23rd
Top Stories May 21st
Top Stories May 17th

Join Over 6M Subscribers

We’re organizing an online community to elevate trusted voices on all sides so that you can be fully informed.





IJR

    Copyright © 2024 IJR

Trusted Voices On All Sides

  • About Us
  • GDPR Privacy Policy
  • Terms of Service
  • Editorial Standards & Corrections Policy
  • Subscribe to IJR

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls

    Copyright © 2024 IJR

Top Stories June 10th Top Stories June 7th Top Stories June 6th Top Stories June 3rd Top Stories May 30th Top Stories May 29th Top Stories May 24th Top Stories May 23rd Top Stories May 21st Top Stories May 17th