Elon Musk’s tweet mocking Budweiser’s advertising slogan results in a significant financial blow, causing an $800 million drop in the beer company’s market value.
In a stunning turn of events, beer giant Budweiser suffered a massive financial loss of $800 million in just one day, thanks to none other than Twitter CEO Elon Musk.
The trouble began when Musk took to Twitter to share a meme that mocked the beer brand’s advertising slogan, “King of Beers.” The meme featured a photoshopped image of a can of Budweiser with the slogan changed to “Elon’s Favorite Beer.”
The tweet quickly went viral, with thousands of users sharing and commenting on the post. Many praised Musk for his humor, while others criticized him for taking a jab at a beloved American brand.
Unfortunately for Budweiser, the fallout from the tweet was swift and severe. Investors panicked at the negative publicity, and shares of the beer company plummeted by nearly 10% in just one day, wiping out $800 million in market value.
Budweiser’s CEO, John Blood, issued a statement in response to the incident, expressing disappointment in Musk’s actions and vowing to take action to regain the trust of investors.
“We are saddened by the disrespectful and unnecessary attack on our brand by Mr. Musk,” Blood said.
“We are confident in our products and our ability to weather this storm, and we will be taking steps to reassure our shareholders and customers that Budweiser remains the King of Beers.”
Musk, for his part, seemed unfazed by the backlash, tweeting a follow-up meme that showed a cartoon character drinking a can of Budweiser with the caption, “Cheers to the haters.”
As of now, it remains to be seen whether Budweiser will be able to bounce back from the massive financial loss, but one thing is for sure: the power of Twitter, and the influence of high-profile figures like Elon Musk, cannot be underestimated.
News
The mystery behind Cardi B and Offset’s good news – S
Cardi B and Offset Welcome Baby Girl Amidst Divorce Drama. Cardi B Welcomes Third Child Amidst Divorce Drama with Offset. Cardi B and Offset have reportedly welcomed their third child, a beautiful baby girl, as confirmed by sources close to…
“Tαke Your Wokeness With You”: Cαndαce Owens Throws Liα Thomαs Out Of The View Set – S
In a turn of events that left viewers of “The View” both bewildered and amused, Candace Owens, the newest co-host replacing Whoopi Goldberg, took a stand against what she called “extreme wokeness” by theatrically ejecting Lia Thomas, the transgender swimmer,…
“She’s Toxic”: No One’s Hiring Liα Thomαs for α High School Coαching Position – S
In an unexpected twist, the sports world has witnessed a peculiar turn of events as Lia Thomas, the renowned swimmer who made headlines for her achievements and controversies, finds herself in a rather unenviable position. Despite her athletic prowess, it…
Breαking: Jason Aldeαn’s ‘You Cαn’t Cαncel Americα’ Tour Shatters Tαylor Swift’s Concert Attendαnce Record – S
In an unprecedented surge of popularity, Jason Aldean’s “You Can’t Cancel America Tour” has shattered the concert attendance records previously held by Taylor Swift. This phenomenal achievement not only marks a significant milestone in Aldean’s career but also underscores the…
Brєaking: ABC Won’t Rєnєw Whoopi Goldbєrg’s Contract, “Shє’s Too Toxic For Thє Show” – S
In a surprising turn of events, ABC has decided not to renew Whoopi Goldberg’s contract for “The View.” Executives at the network expressed concerns about the perceived toxicity associated with Goldberg’s presence on the show. The decision comes after a…
Breαking: Pαrαmount Cαncels $400 Million Project With Robert De Niro, ‘He’s Like A Bαby’ – S
In a shocking turn of events, Paramount Pictures has decided to pull the plug on a $400 million project starring none other than Hollywood heavyweight Robert De Niro. The decision has left fans and industry insiders baffled, with rumors circulating…
End of content
No more pages to load