Target has experienced a significant decline in market value amounting to $9 billion since social media users called for a boycott of the company. The controversy arose due to Target's launch of the "PRIDE" collection, which included LGBTQ-friendly clothing for children. Prior to the controversy, Target's stock closed at $160.96 per share, with a market capitalization of $74.3 billion. However, as of early trading on Thursday, the company's shares were trading down 1% at $141.76, leading to a market value of $65.3 billion. This represents a 12% decrease in market capitalization. Target responded to the backlash by removing certain items from its stores and implementing changes to its LGBTQ+ merchandise nationwide in preparation for Pride month.
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