Anheuser-Busch InBev shares saw their best one-day rise in three months on Wednesday after getting an endorsement from former President Donald Trump, who said people should give the brewer a second chance.
In Brussels trade, the stock
rose 4%, its best single day of gains since a 5% rise on Oct. 31.
Trump took to his Truth Social social-media service to author a post about declining Bud Light sales.
Sales in the U.S. have tumbled since transgender star Dylan Mulvaney made a social-media post about a personalized can of Bud Light, triggering anger as well as confusion from its customers. Bud Light volume in January skidded 29.5% year-over-year, according to the latest Nielsen data, as Budweiser volumes fell by 15.4%.
“The Bud Light ad was a mistake of epic proportions, and for that a very big price was paid, but Anheuser-Busch is not a Woke company,” said Trump.
He said the company spends $700 million a year on U.S. farmers, employs 65,000 and provides scholarships.
“Anheuser-Busch is a Great American Brand that perhaps deserves a Second Chance? What do you think? Perhaps, instead, we should be going after those companies that are looking to DESTROY AMERICA!”