Ben & Jerry’s Loses an Estimated $2.5 Billion After Leftist July 4 Tweet
Unilever, the parent company of Ben & Jerry’s, lost billions in market cap after the ice cream brand celebrated July 4th with an unpatriotic tweet about American history.
Unilever’s share price went from $52.32 per share to $51.37 per share, erasing an estimated $2.5 billion in market cap as social media users called for a boycott, according to Google finance data. The packaged goods conglomerate saw its market cap drop from roughly $133 billion to $131 billion because its share price decreased. . .
This 4th of July, it's high time we recognize that the US exists on stolen Indigenous land and commit to returning it. Learn more and take action now: https://t.co/45smaBmORH pic.twitter.com/a6qp7LXUAE
— Ben & Jerry's (@benandjerrys) July 4, 2023
Ben & Jerry’s left-wing activism has made headlines before, especially when the brand announced in July 2021 that it would stop selling ice cream in certain parts of Israel. Nonetheless, the firm has declined to boycott red states over voting and abortion laws, despite the company’s progressive advocacy.
In April 2021, Ben & Jerry’s advocated for defunding the police, a policy supported by Black Lives Matter and other activist groups. The company began calling for police to be defunded in June 2020, at the height of the Black Lives Matter riots that summer. (Read more from “Ben & Jerry’s Loses an Estimated $2.5 Billion After Leftist July 4 Tweet” HERE)
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