This week, Target lost $9 billion in stock value after a firestorm erupted over their LGBTQ-pride products.
Since Target started selling Pride products last month, customers have been protesting online and in stores. This has caused Target to lose a staggering $9 billion in stock value in just one week!
After a public uproar over Target's decision to carry kids' clothes with designs that some people saw as promoting satanism and homosexuality, the retailer has taken a $9 billion hit in market value.
As companies scramble to appease offended customers, Target joins Bud Light, Miller Light, and other retailers in facing consumer boycotts and negative publicity.
In a recent statement, Target defended its decision to carry the children's clothes, insisting that they were not meant to endorse any specific lifestyle.
But many people were not convinced and boycotted the chain as a result.
Target's decision to carry the clothing has resulted in a $9 billion dollar loss in market value, and the company is in turmoil.
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