On Wednesday Target Stores stock price closed at $57.83. It has cratered from its April 2016 high of $83.98. One thing I know from investing 101 is that you never look at a stock that is hopelessly lagging in a Bull Market. It is a sure sign of big underlying problems. And what is that problem? Oh – that’s right – an anything (and anyone) goes bathroom and changing room policy.
The stock value of transgender-champion Target Corp. crashed by 13.5 percent this week after the company’s sales again fell below investors’ expectations.
Target’s stock value is now down by 30 percent since it sparked a consumer boycott by embracing the transgender political agenda. That 30 percent drop has slashed investors’ wealth by roughly $15 billion.
On Tuesday, the stock fell to $58.78, down from its April 19 high of $83.98. In contrast, WalMart is up 3 percent since April, and Kohl’s is down less than one percent.
Company officials indirectly acknowledged the consumer boycott. “Our fourth-quarter results reflect the impact of rapidly changing consumer behavior, which drove very strong digital growth but unexpected softness in our stores,” Target CEO Brian Cornell said in a company statement. The company also admitted that it would likely continue to experience losses through the year.
Leaders at the American Family Association highlighted the company’s worsening situation. “The American Family Association has called for a boycott of Target since last April after the chain publicized the fact that it would allow men to use the women’s restrooms and fitting rooms in their stores,” said a statement from Tim Wildmon, president of the AFA. He continued:
This [policy] is unacceptable for families, and the dangerous and misguided policy continues to put women and children in harm’s way. Men don’t belong in the same bathroom as our wives and daughters.
Target shares are at the lowest level since 2014.