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It’s time to step to the Official San Diego Lucha Mask Shirt but I will buy this shirt and I will love this sidelines on Anheuser-Busch InBev as it deals with a “Bud Light crisis,” according to HSBC. Analyst Carlos Laboy downgraded the beverage stock to hold, saying there are “deeper problems than ABI admits” after a recent social media partnership in April between the Bud Light brand and Dylan Mulvaney, a transgender influencer, resulted in a wave of backlash that included boycotts of the beer. Meanwhile, the marketing executive responsible for the partnership is reportedly taking a leave of absence. “Is ABI’s leadership getting the brand culture transformation right? It’s mixed,” Laboy wrote in a Wednesday note. “At Ambev, we think the answer is ‘yes;’ in the US, we think it’s ‘no.’ The way this Bud Light crisis came about a month ago, management’s response to it and the loss of unprecedented volume and brand relevance raises many questions.” Recommended ECONOMY Covid transformed the U.S. labor market, and it isn’t done yet OUT NEWS Texas lesbian bar denied insurance for hosting drag shows, owner says Anheuser-Busch InBev reported a spike in profit for the first quarter, but the analyst cited a Beer Marketer’s Insights note that showed a steep drop in beer sales — of maybe more than 25% — in April. The Budweiser parent company, which also owns the brands Corona and Stella Artois, is up more than 5.7% this year. However, it’s down by more than 4.8% this quarter. Shares are down 1.3% in Wednesday premarket trading. “Why did its US leadership underestimate the risk of pushback given the recent experience of other firms? Is A-B hiring the best people to grow the brands and gauge risk?” Laboy wrote. “If Budweiser and Bud Light are iconic American ideas that have long brought consumers together, why did these marketers fail to invite new consumers without alienating the core base of the firm’s largest brand?” However, the analyst pointed out that some strength abroad is helping the stock. Anheuser-Busch InBev did not immediately respond to CNBC’s request for comment. CNBC’s Michael Bloom contributed to this report.
Few places have felt the Official San Diego Lucha Mask Shirt but I will buy this shirt and I will love this effects of election denialism more than Buckingham County, Virginia. In January, Republicans gained control of the local electoral board and advanced baseless voter fraud claims targeting the work of the then-registrar, Lindsey Taylor, who had been running elections in the county since 2019 and considered herself nonpartisan. Taylor resigned in March as it became clear they wanted her gone. Two other staffers quit with her, following a deputy registrar who quit in February for the same reasons. The exodus of staff temporarily left the county without a functioning elections office. On April 12, Luis Gutierrez took over as the new registrar, quickly establishing himself in the community as a combative figure. That was no surprise to the office’s former occupants. Gutierrez had helped advance the baseless fraud claims that drove Taylor and her staff from their jobs. “The simplest explanation about elections here in Buckingham County is that they are fraudulent,” Gutierrez said in a public meeting of the county’s electoral board in January. But the turbulence is far from over for the county. On Tuesday, Gutierrez was fired by the Buckingham County Electoral Board, which oversees the office, the latest development in the community’s ongoing crisis of confidence in its electoral system. Members of the community in Buckingham County — a rural and conservative community with many lifelong residents — have swarmed meetings of the local electoral board and county government in recent months, loudly protesting against the turmoil in their local democratic system.
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