Target’s Stock Market Value Takes $6 Billion Hit Since Backlash Over ‘Pride’ Collection

May 26, 2023 by Jill

byBen Zeisloft, Daily Wire:

Target witnessed a $6 billion decrease in the retail behemoth’s market capitalization amid consumer backlash over a designer featured in the company’s most recent “Pride Month” collection who appears to have created products with Satanic imagery.

The company’s stock price has declined from $152.28 on May 19, the day before activist Scarlett Johnson posted a thread showing that Target had hired the artist to design items for the store, to $139.39 on May 25, marking an 8.5% decrease over the course of a single week. The firm’s market capitalization, which refers to the total value of a publicly traded company’s outstanding shares, fell from $70.4 billion to $64.4 billion over the same time period.

Abprallen, the artist hired by Target to create the controversial items, had designed a mini messenger bag with the slogan “We Belong Everywhere,” a tote bag with the phrase “Too Queer For Here,” and a sweatshirt emblazoned with “Cure Transphobia, Not Trans People” for the nationwide retailer. Other products featured on the artist’s website, which were not sold by Target, included a T-shirt with the phrase “Satan Respects Pronouns” and a design of a skeleton draped in rainbow colors that said “Trans Witches For Abortion.”

“Satanists don’t actually believe in Satan, he is merely used as a symbol of passion, pride, and liberty,” the artist said on his website, which now appears to be temporarily shuttered. “He means to you what you need him to mean. So for me, Satan is hope, compassion, equality, and love. So, naturally, Satan respects pronouns. He loves all LGBT+ people.”

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