Anheuser-Busch InBev (BUD) shares experienced an increase after Donald Trump expressed his support for Bud Light and urged his supporters to give the brewer a second chance.
Although the company is still trying to recover from the losses it suffered after collaborating with transgender influencer Dylan Mulvaney to promote its beer, the company appears to be doing better since the former president made a lengthy post endorsing the brand.
"Anheuser-Busch is a great American brand that perhaps deserves a second chance? What do you think?" Trump wrote, sharing a list of reasons why he believes the beer company should remain in business.
"Anheuser-Busch spends $700 Million a year with our great farmers, employs 65 thousand Americans, of which 1,500 are veterans, and is a founding corporate partner of Folds of Honor, which provides scholarships for families of fallen servicemen and women. They've raised over $30,000,000 and given 44,000 scholarships," the Republican candidate stated.
Although Trump acknowledged that the company made a severe mistake in partnering with Mulvaney, he said Anheuser-Busch has already paid "a very high price" for its decision and suggested that instead of continuing the boycott against Bud Light, companies that really "are looking to destroy America" should be pursued.
Following the release, Anheuser-Busch shares rose more than 3% and could continue to increase as the company increasingly aligns itself with conservative interests.
In fact, it recently came to light that Jeff Miller, a Washington-based lobbyist representing Anheuser-Busch, is organizing a fundraiser for Trump in March.
Donald Trump Jr. opposed the boycott from the start
Shortly after controversy erupted over the beer brand's lousy marketing campaign in April of last year, the former president's son, Donald Trump Jr., opined that Anheuser-Busch should not be boycotted because it is a Republican-supporting company.
In his podcast, "Triggered," the businessman stressed that while he also found the choice of the beer company appalling, Anheuser-Busch has been very supportive of Republicans by issuing large donations to the party. "I'm not gonna blame the whole company for the inaction or the stupidity of someone in a marketing campaign," he said at the time.
