BREAKING NEWS – Minneapolis, Minnesota – There is more trouble for Target shareholders who continue to bear the brunt of the Pride merchandising controversy, which erupted earlier this month.
Shares fell another 3.66%, marking the eighth straight decline and lopping off another $2.4 billion in market cap, as tracked by Dow Jones Market Data Group. Since the backlash, Target’s market value has fallen over $12 billion to $61.77 billion as of Tuesday’s closing price. Mid-month the market value was over $74 billion.
Target is now in talks with Budweiser with plans to show their solidarity, by both corporations filing for bankruptcy on the same day.