Bud Light, $BUD, sales suffered their worst week ever, falling 25.7%, per NYP.

Anhauser-Busch, the parent company of Bud Light, is now suffering from an ad that the beer brand did in partnership with Dylan Mulvaney in April. Aside from the ad, Alissa Heinerscheid, the VP of marketing during that time, said that the company wanted to change its "fratty" image, leading to what now has been reported to be a $15.7 billion drop in market value.

While Anheuser-Busch still suffers from the backlash, its competitors took advantage of it. It was noted that $3.2 billion was added to the market value of their competitors during the same period when Anhauser-Busch lost $15.7 billion.

Here are some examples of other companies benefiting from the boycott.

Coors Lite - saw a 20% increase in market value worth $2.2 billion
Heineken - saw a 1.7% increase in market value worth $1 billion

As of the week ending on May 6, Bud Light sales decreased by over 23%. This was according to Jared Dingas, the beverage analyst at JPMorgan.

Dingas: "We believe there is a subset of American consumers who will not drink a Bud Light for the foreseeable future... Shares have underperformed EU Beer peers by 15% since the start of April"

In mid-April, it was reported that Anheuser-Busch was pausing its marketing efforts and reevaluating its influencer partnerships. During that time, the company maintained that "no one at the senior level" knew about the ongoing partnerships at Bud Light.

Read more: https://unusualwhales.com/news/anheuser-busch-lost-15-7-billion-in-market-value-since-bud-light-ad-in-april