Conservative Boycott Working As 'Woke' Target Loses Massive Profit Revenue
Target has shed $15 billion from its market cap, as outrage over its decision to stock 'tuck-friendly' transgender bathing suits and Pride merchandise grows.
On Friday, the Minneapolis-based firm's shares slipped by another 3.26 percent by close of trading. Target's share price now sits $126.99-per-share, down from a high of almost $162-per-share last month.
Before the becoming engulfed in the controversy Target's market value stood at over $74 billion, according to Dow Jones Market Data Group. Its market cap - calculated by multiplying the number of shares by the price per share - now sits at just $54 billion.
And analysts say the damage could be permanent, with Walmart now soaking-up customers who've chosen to boycott Target in the wake of the scandal.
Conservatives were already unhappy with Target's Pride displays, which included controversial items such as 'tuck-friendly' women's swimsuits. Those are designed for transgender children who still have penises.
Target experienced nine consecutive days of loses and ended the week with another losing streak.
