JHC! So now they’re only going to be supportive in Iowa? Does this have something to do with the Hawkeye Cauceye? 
Right, and they are doing quite badly in the markets eyes. Here’s a 2 week comparison to the broad market index and a consumer staples ETF. Ouch.
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the business owners, i.e. stockholders, lost it’s $11 billion now.
Edit.
That is on a market cap of about $60 billion. See the post by @xerty above. it’s a large percentage drop.
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Yeah, but it’s more a reflection of a popularity contest, rather than the business suffering. I’d bet far more sellers driving down the share price are doing so out of spite on principle, rather than based on an expectation their business results are soon going into the crapper. The former opinion can certainly lead to the latter conclusion, but the nexus often starts as a political decision not an investment decision.
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Good that you read minds. The efficient market hypothesis says that the stock price reflects complete knowledge of the company and its environment.
Are you buying some TGT?
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You can always count on the lawyers to find an angle.
“ATTENTION: Are you a shareholder of @Target @Kohls @abinbev, or other companies that are promoting transgender, LGBTQ and PRIDE products and diminishing shareholder value? We want to hear from you,” the law firm posted.
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I’m hypothesizing, not “reading minds”. Your curt reply only shows you know that I’m likely more correct than not.
No, I’m not buying Target. But I never was going to anyways. I dont like retail regardless, especially individual stocks, beyond what a few of my mutual funds hold.
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They didnt have to search too hard for one. A company’s fudiciary duty is to it’s shareholders, and destroying their shareholders in favor of pushing an unrelated social agenda is a breach of that duty.
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I agree, but there is little to enforce it. I could easily see the management paying off the lawyers with major shareholders like Blackrock cheering them on.
The only way this will gain traction is if enough conservative women are PO’d enough to shop elsewhere so TGT sales fall significantly.
I do not follow retail, so I don’t know if they have any significant competition. In my neighborhood a JCPenney and Sears closed down so there’s only target and Kohl’s.
Farther away though there’s a big shopping center with Nordstrom‘s and Macy’s and smaller specialties. They are probably also woke but not in the crosshairs like target.
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Target doesn’t just sell clothes like the stores you mentioned. I think Target’s competition is Walmart and Amazon.
And as far as fiduciary responsibility, I think the lawyers would have to prove that Target did whatever they did knowing in advance that the stock price would decrease. And this argument would fall apart if and when the stock price recovers, I would think.
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The ambulance chasing securities lawyers sue every moderately sized company whose stocks drops a lot, regardless of why. People who sold during the drop are still, allegedly, damaged regardless if the stock later recovers. These things never go to trial for “proof” - just a rubber stamped class action settlement that indemnifies the company execs and binds any shareholders who don’t object to the token settlement amount (only if they file paperwork to get it) and a nice 1/3 cut for the lawyers. It’s a racket.
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Good news from Twitter land
ON TWITTER, FREE SPEECH IS HANGING ON
Elon Musk pledged to make Twitter a free speech zone, but it hasn’t always turned out that way. Yesterday a controversy unfolded over the Daily Wire’s plan to stream the movie “What Is a Woman?” for free on Twitter.
When the Wire announced its intention to stream “What Is a Woman?” on Twitter, it encountered censorship based on the fact that it includes a couple of instances of “misgendering,” i.e. people on screen using someone’s grammatically correct pronouns rather than delusional ones:
Elon Musk then stepped in, defending the Wire’s right to show the film. As of yesterday afternoon, it wasn’t clear what was going to happen. But the free screening went forward, and as of a few moments ago the video had been viewed 35,600,000 times. It had 55,000 retweets and 138,000 likes. Musk retweeted the movie and endorsed it:
Edit.
This is not a coincidence
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Speaking of Twitter, where’s the TWTR lawsuit? It dropped quite a bit during the Musk takeover saga when he threatened to back out a few times.
I forget, did he buy it at a reduced price? Or did all the interim drops happen after the sale price was set?
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Yeah, he gave a price and eventually had to pay it, so if you lost the faith in the meanwhile, I think that’s on you. The TWTR mgmt did great making him actually buy them for the pre-mkt-tanking price.
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It’s not like the TGT management intentionally caused the slide. They were just trying to sell more product.
In case of TWTR, the drops were Musk’s fault (so the lawsuit would be against him, not TWTR management).
Get woke, go broke. Hard evidence of market share loss for Bud, on historical boycott effectiveness generally, and how bad PR from them harms the brands of the targeted companies.
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Obviously not intentionally, but possibly/probably recklessly. IIRC, the backlash against Bud was established before the the Target fiasco went live.
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This is pretty ballsy.
I don’t have a problem with this; like all entertainment it can turn some people off, but it’s still entertainment. My problem is with how it’s being promoted not as an entertainment option but as a “pride” event, intending to sell the cause rather than simply entertain.
In addition to hosting PG drag shows for kids, teens and adults, the event advertised a digital presentation on the history of Pride, stating, "If you are interested in learning more about how the national PRIDE celebration began, then visit Crazy Horse Saloon to see a digital presentation on the TV screens.
The Clay County School Board passed a policy requiring students to use the bathroom of their gender at birth.
“At birth” is just a way to avoid saying “their natural gender”.
Forcing transgender youth to use the public facility aligned with their sex assigned at birth is detrimental to them," William Wickim argued.
What’s detrimental is allowing such kids to believe they can snap their fingers and become something they are not.
“It concerns me deeply that we are going to push many of our vulnerable students even deeper into that vulnerability,” Bolla said during Thursday’s meeting.
Then stop pushing them deeper, and stop indulging their fantasy that this is something they’re entitled to. That is what victimizes them the most.
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