Target Loses $9 Billion In Market Value In A Week Following Boycott Over LGBT Merchandise

Target’s market value plunged $9 billion in one week after anger erupted over the store’s new “PRIDE” collection, which features clothing for children and babies as well as a chest-binding swim top and a “tuck-friendly” women’s bathing suit.

Social media users and conservative activists began calling for boycotts of Target following the release of their PRIDE line last week. The company was valued at $160.96 per share on May 17, at a market value of $74.3 billion; as of Thursday morning each share was valued at $139.84, the lowest in over a year, at a market value of $64.54 billion, according to MarketWatch data.