Target market cap losses hit $15.7 billion, shares approach 52-week low amid woke backlashTarget’s market cap has fallen over $15.7 billion amid backlash to decisions surrounding LGBTQ Pride merchandise as the stock dropped another 0.4% on Monday.
Target’s market value was over $74 billion before the Pride displays made national news, as tracked by Dow Jones Market Data Group. The retailer initially irked conservatives with Pride displays that featured items such as assorted children’s apparel and "tuck-friendly" women's swimsuits, but some in the LGBTQ community also became outraged when the displays were dialed back ahead of Pride Month.
Shares fell to $126.48 when the market closed Monday after eclipsing $161 just last month. Three Wall Street firms have since downgraded the shares on concerns over slowing sales. Target shares are just shy of a 52-week low of $125.08............
https://www.foxbusiness.com/media/target-market-cap-losses-hit-15-7-billion-share-near-52-week-low-amid-woke-backlash
