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Anheuser-Busch stock climbs after Trump endorses Bud Light. 'Not a Woke company'

Hannah Wyman, St. Louis Post-Dispatch on

Published in Business News

ST. LOUIS — Anheuser-Busch InBev stock prices are inching closer to what they were last year before sales tanked, thanks at least in part to a recent endorsement by former President Donald Trump.

Trump praised the company on social media on Tuesday, helping push Anheuser-Busch stock prices up about $2, or almost 3%, that day.

And they have continued to increase, closing at $65.61 on Thursday, close to last year’s high of $67.09 a share.

Still, experts say it is too early to tell if Trump’s seal of approval will impact beer sales.

“It will be interesting to see if there is any improvement,” David Steinman, Beer Marketer’s Insights executive editor said. “Trends have remained similar since April but that doesn’t take into account this latest incident. Stocks are up so it seems like the reaction could be a positive thing.”

Trump took to his social media platform, Truth Social, on Tuesday, and urged his followers to forgive the Belgium-based brewer after the company sent a personalized Bud Light can to transgender influence Dylan Mulvaney as part of an advertising campaign.

 

“The Bud Light ad was a mistake of epic proportions, and for that a very big price was paid, but Anheuser-Busch is not a Woke company,” Trump wrote.

“Anheuser-Busch is a Great American Brand that perhaps deserves a Second Chance?” he continued. “What do you think? Perhaps, instead, we should be going after those companies that are looking to DESTROY AMERICA!”

Trouble began brewing for the company when Anheuser-Busch InBev sent the personalized can of Bud Light — emblazoned with a picture of Mulvaney — to her as part of a marketing campaign last April.

Some, including celebrities like Kid Rock, called for a boycott of Bud Light, though the musician in December said he was done boycotting the beer.

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