Bud Light Slump Results in AB InBev’s Worst Month Since 2020
- Boycott of beer brand over influencer enters third month
- Backlash is worse and longer than expected, Bernstein says
Anheuser-Busch InBev NV just recorded its worst month since the start of the pandemic as the backlash in the US over a decision to promote its Bud Light brand with a transgender influencer rages on.
The beer maker’s US-listed shares sank 18% in May, compared with the March 2020 plunge of 24% on the heels of widespread lockdowns in an effort to stop the spread of the Covid-19 virus. Meanwhile, rivals Boston Beer Co., Molson Coors Beverage Co. and Constellation Brands Inc. have all fared better than AB InBev this month, seeing an average return of 5.4%.