Connect with us

Hi, what are you looking for?


BUD stock price: strong buy despite the Mulvaney controversy

Anheuser-Busch (NYSE: BUD) stock price has retreated in the past few days as investors focus on the ongoing Dylan Mulvaney controversy. The stock dropped to a low of $65.21, which was lower than this week’s high of $67.67. 

BUD’s Dylan Mulvaney controversy explained

One of the top culture war stories recently has been about Anheuser-Busch, one of the biggest alcohol brands in the world. The controversy started when the company launched a marketing campaign with teen sensation Dylan Mulvaney. 

The company’s goal was to reach out to younger drinkers who it is struggling to gain market share. Mulvaney was one of the influencers who received cans of beer with her name on. The goal was to use her to reach millions of her followers.

The controversy happened because Dylan Mulvaney is a transgender person. As a result, there are concerns that the company will lose some market share as people opposed to the woke agenda avoid it. In a report, Beer Business Daily said that the company’s distributors in the south were spooked by the ad. It estimated that there will be a drop in sales.

Watch here:

However, the reality is that this controversy will not have an impact on the company’s sales. Many studies have showed that boycotts rarely work. There are many examples about this. For example, during his administration, President Trump railed against the New York Times and asked his supporters to boycott the company. Instead of failing, NYT added millions of customers.

Trump also pressed conservatives to boycott Apple. Instead, Apple grew to become the biggest company in the world. There have also been calls to boycott Twitter, Instagram, and Facebook. 

Therefore, while the NyPost has declared that the Bud Light boycott has legs, the possibility of it succeeding is limited. Besides, beer lovers will not stop drinking their favorite brand because of this controversy.

BUD stock price forecast

BUD chart by TradingView

Is it safe to buy AB InBev stock? The daily chart provides a simple reason why the BUD stock price has pulled back in the past few days. As shown, the pullback happened when the shares rose to the important resistance level at $67.10. This was an important level because it was the highest level in June last year.

Meanwhile, the stock has been supported by the 50-day and 200-day moving averages. The two made a golden cross pattern in December. It has also formed an inverted head and shoulders pattern. Therefore, there is a likelihood that the shares will continue rising in the near term as investors target the 78.2% retracement level at $72.38.

The post BUD stock price: strong buy despite the Mulvaney controversy appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    Rep. Jennifer Wexton (D-Va.) announced on Tuesday that she has been diagnosed with Parkinson’s Disease. “If there’s one thing that Democrats and Republicans can...

    Latest News

    After Dianne Feinstein announced she’d contracted the shingles in early March, her staff said she planned to return to the Senate within a matter...


    A U.S. District Court judge has ruled that Elizabeth Holmes, founder and CEO of the disgraced blood-testing company Theranos, cannot remain free on bail...

    Latest News

    SEOUL, South Korea — When a group of American lawmakers arrived in South Korea for meetings with government and military officials, President Yoon Suk-yeol...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.