More bad news for Bud Light this week … and Target too.
Stock shares in Target have dropped 12.6% in a week, with a drop of 1.6% in a single day. That’s a loss of nine billion dollars in market revenue in one week. It’s been a bad week for the already struggling big box chain. It continues to fight controversy after getting busted for transgender, tuck-friendly swimwear and a slew of pro LGBTQ and trans slogans on kids clothes.
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And Bud Light continues to tank as it tepidly tries to right their ship in the midst of the Dylan Mulvaney controversy. This week, sales are down 24.6%. The week before, sales were down 23.6% since pre-controversy days. The 1% additional drop in sales represents a consistent decline that shows no signs of slowing down.
Our Patrick Bet-David has an interesting take:
Target loses $9B in a week after the introducing LGBTQ-friendly kids clothing.
Target stock down 12%
Bud light down 25%Lessons for all Fortune 500 CEO’s & CMO’s.
1. Screw your ESG score. Instead, Focus on KEEPING your BEST customers happy.
2. You can’t please both the…
— Patrick Bet-David (@patrickbetdavid) May 26, 2023
And in Friday’s episode of the PBD Podcast, Patrick notes that there’s one dominating term that explains why these corporations are so eager to obtain a high Environmental, Social, and Corporate Governance Score (ESG).
Force.
Not the market, but force. He brings up an alarming video from BlackRock CEO Larry Fink. “You have to force behaviors. At BlackRock we’re forcing behaviors,” he says. This was in response to a question about his involvement with the ESG movement.
BlackRock has a lot of power. They are the word’s largest asset manager.
Activists are focused on the stores and brands trying to shift away from the traditional family focus.
But the bigger picture is being ignored. Why are these brands so eager to self flagellate? It’s because of a globalist, corporate agenda. They’re the ones behind all of this, and they’ve been careful not to step into the spotlight.
PBD, referring to BlackRock says, “You know how much assets they have under their management as of 2022? 10 trillion. 70 offices in 30 countries, with clients in 100 countries. Some of these are countries that don’t like America, but these guys are representing the globalist brand. One of the things they can do to make their clients happy is through ESG, and to control behavior of what these companies can do. It’s force vs. freedom.”
Trillions of dollars. BlackRock makes the rules, in a behind-the-scenes, clever way. Some nations are just way more hard left than the USA and feel this radical corporate trend is the correct one. But what other nations have billions tied up in a globalist economy? Iran. Saudi Arabia. China. Nations that actively want America to fail.
How do you do that? Subvert the culture. Once you subvert the culture, the family falls apart. Once the family falls apart, the population tanks.
China – and other adversaries – are playing the long game.
And worst of all? The United Nations is in on it too. They actually created the ESG idea and developed the scoring framework. And they’re the ones giving out the official ESG rating.
Would it be shouting conspiracy to say there’s a globalist effort to defeat the traditional family-centered structure of the USA? Does the UN have a vested interest in knocking the USA down a peg? Some presidents have chosen not to comply with the UN’s draconian economic or environmental regulations.
We’ll let you decide, but at least Patrick put the cards on the table.
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