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