May 24, 2023
A new report estimates Anheuser-Busch InBev's market value has plunged a staggering $15.7 billion since April 1, the day the Dylan Mulvaney controversy exploded. That estimate came from Investor's Business Daily, which used a conversion to U.S. dollars using data from S&P Global Market Intelligence. On April 1, Mulvaney promoted Bud Light during the NCAA March Madness tournament. "We believe there is a subset of American consumers who will not drink a Bud Light for the foreseeable future," Jared Dinges, beverage analyst at JPMorgan Chase, said on Tuesday. "We believe a 12% to 13% volume decline on an annualized basis would be a reasonable assumption." Shares of Anheuser-Busch's stock have plummeted 11.9% since April 1, while Molson Coors Beverage shares have soared 20%, rewarding Molson Coors with over $2.2 billion in additional market value. According to JPMorgan analysts, U.S. beer volumes for Anheuser-Busch could plunge 12% this year. "Sh
