Since the controversy erupted a week ago, Target’s stock has fallen by some 11% while its market capitalization has shrunk by some $6.4 billion.
A week ago Wednesday before the controversy erupted, Target’s stock closed at $160.96 a share, giving the big-box chain a market capitalization of $74.3 billion.
That amounts to a 12% drop that has shaved a whopping $9 billion off the company’s market capitalization.removing some items from its stores and making other changes to its LGBTQ+ merchandise “Since introducing this year’s collection, we’ve experienced threats impacting our team members’ sense of safety and well-being while at work,” Target said in a statement on Tuesday.
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