by WorldTribune Staff / 247 Real News June 1, 2023
JPMorgan Chase & Co. downgraded Target stock on Thursday from “overweight” to “neutral” amid a nationwide boycott over the retailer’s release of an LGBTQ-friendly line that includes clothing for children and “tuck-friendly” women’s swimwear with “extra crotch coverage.”
Target’s stock has lost more tan $13 billion over the past two weeks.
“Investors are concerned that Target may be experiencing a sales decline because it’s alienated some of its core customers,” said Edward Jones analyst Brian Yarbrough.
Target is suffering its longest losing streak since February 2000 “and together with Tranheuser Bush should serve as a great lesson for any other corporations who seek to alienate the bulk of consumers (especially those who don’t live on government handouts) just to cater to a very mentally unstable 0.5% of the population,” Zero Hedge noted.
Other items in Target’s LGBTQ-friendly line include a onesie for infants that say “Bien Proud,” a children’s book titled “‘Twas the Night Before Pride,” and a handful T-shirts donning LGBTQ-friendly slogans such as “live laugh lesbian.”
Customers have accused Target of grooming children with the items.
Rapper Forgiato Blow is topping the iTunes chart with his new song “Boycott Target.”
“Attention all shoppers, there’s a clean up on every aisle. Target is targeting your kids,” Blow says in the track’s opening line. The song’s lyrics address an LGBTQ “agenda” that the rapper sings has gone “too far.”
Prior to Target’s share price nosedived, CEO Brian Cornell defended the retailer’s “PRIDE” line, saying on a podcast earlier this month that putting out an LGBTQ-friendly line ahead of Pride Month in June is a “good business decision.”
He added: “It’s the right thing for society, and it’s a great thing for our brand.”