Just recently, reports claiming that NASCAR dropped their Bud Light sponsorship has been going viral, prompting many online users to do a fact check on the report, find out all the details below
Anheuser-Busch, which is the parent company behind Bud Light, has been a long-time sponsor of NASCAR.
Did NASCAR really drop Bud Light sponsorship and is the stock price crash of Anheuser-Busch real after Dylan Mulvaney ad
Anheuser-Busch, the maker of Bud Light, faces a significant loss in revenue & reputation as NASCAR pulled its nearly $88 mil sponsorship. The decision came after Busch hired transgender activist Dylan Mulvaney as its spokesperson & even printed his/her face on a can of Bud Light.
— Andrea Smith (@AndreaS14740798) April 14, 2023
Hey @nascar—Are you listening?
Country music's Travis Tritt drops all Anheuser-Busch products after Bud Light's Dylan Mulvaney campaignhttps://t.co/0T1uK9k95A— edgiesversion 24ElectionMatters (@edgiesversion) April 7, 2023
Following an online report, which claimed that NASCAR dropped the partnership between the two after the drama involving Dylan Mulvaney, the issue has caught the interest of many.
Report claiming NASCAR has dropped Bud Light sponsorship
The report claiming about NASCAR allegedly dropping the Bud Light sponsorship comes from Dunning-Kruger Times. The website is the a right-leaning satirical website, which was also responsible for rumors that its CEO Augustus Anheuser Busch III resigned. It was also the same website claiming Budweiser lost $800 million since the drama began.
The most recent report is titled, “Nascar Drops ‘Woke’ Budweiser Sponsorship’. The article however, talks about Bud Light experiencing the alleged loss.
The article re-quotes the infamous line “going woke, going broke”, while claiming, “Nascar has dropped its nearly 88 million dollar sponsorship of the sudsy beverage” following the beer brand’s decision to use Dylan Mulvaney as their spokesperson.
Prior to earlier reports, the American beer brewing company lost roughly $5 billion in market value due to the over its Bud Light campaign featuring the transgender influencer.
As such, other the claims about NASCAR allegedly dropping their partnership with Bud Light caught a lot of people’s interest naturally.
NASCAR dropping Bud LIGHT sponsorship fact check
In short, no, the claims made by the website are not at all true. As things stand, there is no evidence or report to support the claim that NASCAR dropped their Bud Light sponsorship.
The Dunning-Kruger Times, which posted the report, is a conservative satirical site. The site has always presented the values of the right-leaning population in an exaggerated fashion.
In reality, neither NASCAR nor Bud Light’s parent company has commented on the issue. Moreover, the website clearly states in their About Us section that the content presented on its platform shouldn’t be taken seriously since everything on the site is pure “fiction.”
The site notes:
“Any similarities between this site’s pure fantasy and actual people, places, and events are purely coincidental and all images should be considered altered and satirical”.
Bud Light stock drop
While Bud Light claims that their campaign with Dylan is only to promote inclusivity, it has undoubtedly suffered considerable losses. According to reports, Anheuser-Busch’s stock price initially rose from $64.96 on Monday, to $65.50 on Tuesday, April 11. Following which it saw a plunge after a 10-day won streak.
According to the New York Post, the share value for the Bud Light parent company dropped by nearly 4 percent. Stocks kept decreasing by 1.5 per cent just recently on Wednesday as well. As of now, the beer brewing company’s market cap is down to $127.13 billion.
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