• Bud Light’s parent company has lost more than $6 billion in market capitalization since announcing its partnership with transgender influencer Dylan Mulvaney
• In the days leading up to the announcement, shares of the Belgium-based brewer were trading around $66 – a high not seen since before the pandemic
• As of Wednesday’s market close, shares of the beer giant were trading at around $63, down more than 5% from Anheuser-Busch’s total stock value.

Bud Light’s parent company has lost more than $6 billion in market capitalization since announcing its partnership with a polarizing transgender internet personality.

Unveiled on April 2, the brand’s alliance with 26-year-old Dylan Mulvaney has since sparked outrage and calls for boycotts – and now appears to be hitting Anheuser-Busch where it matters most: in the wallet.

In the days leading up to the announcement, shares of the Belgian brewer were trading around $66 – a high not seen since before the pandemic.

As of Wednesday’s market close, the beer giant’s stock was trading at around $63, down more than 5% from Anheuser-Busch’s total stock value – a concept more commonly referred to as “market capitalization”.

Currently at $125.73 billion, the company’s market capitalization stood six days ago at $132.38 billion, as the brass continue to stick to their deal with Mulvaney – an outspoken activist who has more than 10 million social media followers.

The sharp decline comes after Anheuser-Busch’s stock price experienced a brief rally in the second half of March, which itself continued on a slow continuing rally to over 80. $ of the stock price the company was boasting about prior to March 2020.

On March 20 of this year, the stock was trading around $60 – a resistance marker it had been hovering around since January.

However, as of March 31, its stock has risen to $66.73, a three-year high.

Shares have since fizzled – the drop coinciding almost to the day with Mulvaney’s recently announced partnership with Anheuser-Busch’s top-selling beer brand.

Also the top-selling beer on the tally, Bud Light began its partnership with Mulvaney by sending the influencer – who began transitioning from male to female in 2021 – cans personalized with her face and pro-LGBTQ language, to commemorate that she has been a woman for over a year.

The gift – touted by the star in a series of partnership posts – launched the since-confirmed partnership, which was later established by a later video featuring a naked Mulvaney.

Appearing before his 11 million followers in a bathtub sipping a can of Bud Light, Mulvaney almost single-handedly unleashed the storm of backlash seen since, in which many have vowed to give up swill altogether for protest against the partnership.

Critics like Kid Rock – who filmed himself turning several cases of the top-selling beer in a challenge – now accuse the brand of pandering to the progressive left.

Some took credit for Anheuser-Busch’s recent decline in value, while others expressed disapproval of Mulvaney being the brand’s new face on social media.

Amid the outcry, Bud Light’s parent company was forced to release an official statement saying it supports Bud Light’s decision to work with Mulvaney, who rose to internet fame with a series of videos documenting his transformation into female.

“Anheuser-Busch works with hundreds of influencers across our brands as one of many ways to authentically connect with audiences of different demographics,” the rep said in a statement shared with multiple outlets. last week.

He added: “From time to time we produce unique commemorative cans for fans and for brand influencers, like Mulvaney. This commemorative can was a gift to celebrate a personal milestone and is not for sale to the general public.

Their doubling, however, has only further enraged customers – and likely played a part in Anheuser-Busch’s recent market woes, most of which began earlier this month.

Incidentally, the first day of trading in April was April 3 – the day after the official announcement of the Mulvaney partnership.

During a podcast appearance on Tuesday, Mulvaney commented on the heavy-handed response since then, saying his critics were taking advantage of an easy target.

“The reason I think I’m so… I’m an easy target is because I’m so new to this,” Mulvaney told Rosie O’Donnell on the popular comic book podcast Onward. with Rosie O’Donnell.

“I think it’s a lot harder to go after a trans woman who’s been doing this for 20 years. I think they think maybe there’s some kind of luck with me… But what’s their objective ? ‘

These people, they don’t understand me and everything I do or say is then taken out of context and used against me and it’s so sad because everything I try to say is positive.

“It’s trying to connect with others who maybe don’t understand me. It’s to make people laugh or to make a child feel seen.

When approached by journalists in Hollywood shortly before about the backlash, Mulvaney – who has earned more than $1 million from brands like Kate Spade, Crest and InstaCart – said she is “thriving” and “doing very well”.

When asked if she expected the recent unrest to pass and if transgender influencers were ‘the future’, the TikTok star – about a week into her gig as an ambassador for the brand of beer – answered with a resounding “yes”.

DailyMail.com has contacted Anheuser-Busch for comment.