With 1.25 million swearing off Target, its stock drops by nearly 20%
Target’s stock has fallen nearly 20% — roughly $16 dollars per share — since announcing its transgender bathroom policy on April 19.
The drop would appear connected to a boycott organized by the American Family Association. Over 1.28 million thus far have signed the Boycott Target Pledge committing to take their business elsewhere.
However, Target’s CEO Brian Cornell told Fortune last Wednesday that he doesn’t believe the transgender bathroom policy is to blame. Instead, he claimed the weather and “skittish consumers” were responsible for the sharp decrease. “To date we have not seen a material or measurable impact on our business. Just a handful of stores across the country have seen some activity and have been impacted,” Cornell said.
This article continues at [Stream] Target Stock Continues to Plummet in Wake of Transgender Bathroom Policy Announcement